Tata Steel, the group which is amongst the best dividend paying companies in the stock market, and is constantly on the sentinel for development plans. For the development of iron ore mines in Canada, the company is planning to extend an existing agreement with New Millennium capital.
The current agreement that Tata Steel has with the company, expired on December 31, 2010. According to the current situation, the Ratan Tata owned steel major has a 27 percent stake in ‘New Millennium Capital’ with 80% stake in the Direct Shipping Ore (DSO) project.

A 42 pct plunge was forwarded by Tata Steel, (among the top 10 steel companies in the World), in its consolidated profit at Rs 473 crore during the third quarter of FY10 over the corresponding period last year. Furthermore, a decline from Rs 33,199 crore to Rs 26,202 crore was seen in the company’s total income from operations, during the period under review, which occurred mainly because of to a fall in demand in US and Europe.
