New Delhi: The Geological Survey of India (GSI) has discovered new iron ore reserves of over 22 million tonnes in Tamil Nadu and Karnataka.

The Mines Ministry sources stated that the public sector company has detected four iron ore blocks in Namakhal blocks in Tamil Nadu containing reserves of 14.03 MT of magnetite ore with Ferrous content ranging between 31 to 37 per cent,.

The purchase of Corus assisted the world’s sixth biggest steel maker, Tata Steel, to record a six-fold jump in its consolidated profit after tax (PAT) at Rs 6,388 crore for its first quarter.

Tata Steel registered a consolidated profit after tax (PAT) of Rs 1,014 crore in the corresponding period of the last year (2006). The current figures showed a growth of 6.30 times, following the acquirement of Corus.

Tata Steel has posted great results.

Jamsetji Nusserwanji Tata had a dream to make India self dependent by using Science and Technology. He devoted his life to hydro-electric power plans and Iron & Steel Works at Jamshedpur. He believed in offering low cost solutions to clients and to add value to wealth of shareholders. After the acquisition of the Corus group, the company is among the first five steelmakers in the world. Tata has also acquired NatSteel Asia and Millennium Steel Thailand.

Mumbai: Areva T&D India shares benefited on Friday after the power equipment company got an Rs 63 crore order from Essar Steel Ltd.

In early trading (11.45 am), the stock brought in Rs 21.35 or 1.50 per cent at Rs 1,433 on the Bombay Stock Exchange (BSE).