Sharad Shah hikes stake in Tata Coffee to 12.90%

Tata Coffee today said one of its shareholders, Sharad Kantilal Shah, and his associates have increased their stake by 1.2 % to 12.90 % in the company.

By PTI | Mar 15, 2011, 02.16 PM IST

Mumbai: Tata Coffee today said one of its shareholders, Sharad Kantilal Shah, and his associates have increased their stake by 1.2 per cent to 12.90 per cent in the company by buying shares from the open market.

In a filing to the Bombay Stock Exchange, the company said Shah -- who is acting consultant to firms Tripti Sharad Shah and Astral Securities Private -- has bought 2,24,548 shares aggregating to 1.20 per cent in Tata Coffee.

The company said Shah and his associates were earlier holding a 11.70 per cent participating interest in the Tata Group firm.

Shares of Tata Coffee were trading at Rs 924.10 in the afternoon, up 1.92 per cent from the previous close on the Bombay Stock Exchange.

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