Indiabulls Housing Finance (IBHFL) has appointed Akshay Gupta, as group executive head for its asset management businesses.

Under the leadership of Akshay Gupta, IBHFL will leverage its distribution network to substantially enhance its fee income through the asset management business and will also plan to launch an alternate investment fund after seeking necessary approvals.

Shares of the company gained Rs 389.7, to settle at Rs 389.70. The total volume of shares traded was 42,574 at the BSE (Friday).