Emami, a leading consumer products manufacturer, has made announcement that the company is proposing to exit from the real estate business by divesting 100 percent stake of its wholly-owned arm, Emami Realty.

According to the company officials, Emami is in talks with other parties for marketing the stake of the company in the realty firm.

The source close to the company said that the buyer could be one of the various group conglomerates of Emami, or any other entity outside the group.

Pursuant to stake sale Emami Realty would cease to be the arm of Emami for which the Emami board had adopted an enabling resolution in this regard.

Scrip of Emami ended well at Rs 244, up 0.41 percent on National Stock Exchange (on Friday, 24 October ). The total volume of shares traded at the NSE was 227,932.