Mumbai, May 4 (PTI): Foreign institutional investors have raised their stake in Tata Tea Ltd by 4.4 per cent to 5.21 per cent as on March 31, 2003 from 0.81 per cent at the end of March 2002.
However, the Indian public holding declined by 3.77 per cent to 31.85 per cent as on March 2003 compared with 35.62 per cent on March 2002, according to the data filed with Bombay Stock Exchange.
As on March 31, 2003, some of the foreign funds which have stake in the Calcutta-based tea major are T Rowe Price New Asia Fund (1.35 per cent), Merrill Lynch Capital Markets Espana (1.13 per cent) and Goldman Sachs Investments Mauritius Ltd (1 per cent).
The total foreign holding in the company touched 6.18 per cent of its capital in 2002-03 (2.08 per cent in 2001-02) according to the BSE data.
The non-promoter institutional holding also grew to 34.03 per cent as on March 31, 2003 as against 28.50 per cent on March 31, 2002.