EFUL reported insider transaction worth Rs. 3.7 million

In a notification sent to the PSX on 08/05/2024, EFU Life Assurance Limited (EFUL) reported a transaction by the non-executive director.

The transaction was carried out by Mr. Saifuddin N. Zoomkawala, who is a non-executive director.

He sold a total of 20,000 shares of the company at a price of Rs. 189.67 per share. The total amount for this transaction stands at Rs. 3,793,400.

An insider selling stock in a company can sometimes be seen as a signal by investors. It suggests that those with intimate knowledge of the company’s operations and prospects have taken this action, possibly indicating their view on the stock.

The shares of EFUL were last trading at Rs. 190.01 today.