Paytm shares drop 2% after Vijay Shekhar Sharma forfeits 2.1 crore shares

Shares of Paytm parent One97 Communications Ltd dropped more than 2 percent before trading in a narrow range on Thursday. The stock was in focus a day after founder and CEO Vijay Shekhar Sharma gave up stock options worth Rs 492 crore to comply with a regulatory order.

The Paytm stock fell over 2 percent to the intraday low of Rs 846.3 apiece in the first leg of trade today, before stabilising. The scrip was trading 1.68 percent lower as of 2:18 p.m., compared with a 1.85 percent rise in the benchmark Sensex.

The stock as returned 116.94 percent in the…