Paytm stock sinks 5 per cent after president and COO Bhavesh Gupta resigns

Shares of One97 Communications, the Paytm parent, were locked in at the lower circuit level of 5 per cent on Monday after president and chief operating officer Bhavesh Gupta resigned from the company.

The scrip fell 4.99 per cent or ₹18.50 to finish at ₹351.70 on the BSE. On the NSE, it dropped 5 per cent to ₹351.40.

One97 Communications had said on Saturday that president and chief operating officer Gupta had resigned from the company.

He was leading the lending business, online and offline payments and compliances, among others.