Paytm slips 5% on resignation of president & COO Bhavesh Gupta

Shares of One97 Communications, which owns the brand Paytm, were locked in 5 per cent lower circuit at Rs 351.70 on the BSE on Monday at 02:06 PM. The selling pressure comes amid the resignation of President and Chief Operating Officer (COO) Bhavesh Gupta, as a part of the overall organisational restructuring.

A combined 4.9 million equity shares changed hands on the counter today, and there were pending sell orders for around 380,000 shares on the NSE and BSE. The stock had hit a 52-week low of Rs 318.35 on February 16, 2024.