May 21 (Reuters) - Activist investor Eminence Capital bought more stake in Reckitt, piling further pressure on the consumer goods group whose share price has plunged over fears that its baby formula business could be on the hook for billions in damages, the Financial Times reported on Tuesday.

Eminence owns at least 0.5% of Reckitt's stock after it began buying up shares in March, the report said, citing people familiar with the matter. (Reporting by Gnaneshwar Rajan in Bengaluru; Editing by Janane Venkatraman )