Emami Ltd, one of the fastest growing FMCG Company in India, is presently in the process of exiting from the real estate business by selling 100% stake of its wholly-owned subsidiary, Emami Realty Ltd. 

A top company official stated that Emami is currently in talks with other parties for selling the stake of the company in the realty firm. 

According to them, it could be one of the various group companies of Emami to buy out the stake, or any other entity outside the group. 

Asian Paints, India's largest paint company, has posted a net profit of Rs 131.5 crore for the quarter ended September 30, 2008, 15.5 per cent up from the Rs 113.9 crore posted during the corresponding period, previous year.

While, sales and operating Income for the quarter rose 30.2 per cent to touch Rs 1,475.3 crore from Rs 1,133.2 crore.

In a separate release, the board of directors has recommended the payment of an interim dividend of Rs 6.50 per share (65 per cent). 

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The Asian Development Bank has finally sanctioned an 800-million-dollar loan to help the Indian state of Himachal Pradesh to expand hydro power generation with a series of projects in the western Himalayas. 

With the help of the eight-year loan package, Himachal Pradesh plans to utilize five major rivers to build hydropower plants, which will provide a combined capacity of 808 megawatts.
 

Unitech, country's second largest real estate firm has informed that it has decided to divest 26% to 45% stake in its telecom venture to a strategic partner, within a month.

Presently, the company is scouting for a strategic partner who can help it, to build the telecom business.

Unitech is among the few companies, which had recently bagged telecom licences along with Swan, Datacom and Shyam Telelink. The company has secured licences for 22 circles and spectrum in 13 circles.