Tata Steel Ltd.

Tata Steel, the flagship company of the Tata Group, is keen on renewing the pact National Mineral Development Corporation (NMDC). The company has entered into partnership with NMDC in 2010 for exploring possibilities of joint ventures for acquisition of mines and setting up steel plants.

This partnership has already ended on January 21, 2012. Both the companies now plan to jointly address mining and steel-making opportunities. A working group will be set by two companies to explore the areas of cooperation which will submit its report to a steering committee.

On standalone basis, the company has posted a fall of 8.62% in its net profit at Rs 1560.51 crore for the quarter ended March 31, 2012 as compared to Rs 1707.71 crore for the same quarter in the previous year.   However, total income has increased by 13.68% at Rs 9662.36 crore for quarter under review as compared to Rs 8499.73 crore for the quarter ended March 31, 2011.