UNITY reports insider transaction worth over Rs 1 billion

In a notification sent to the PSX on 26/06/2024, Unity Foods Limited (UNITY) reported a transaction by a non-executive director.

The transaction was carried out by Mr Abdul Majeed Ghaziani, who is a non-executive director. He sold a total of 57,719,476 shares of the company at a price of Rs. 27.34 per share. The total amount for this transaction stands at Rs. 1,578,050,473.84.

An insider buying stock in a company is often interpreted as a positive signal by investors. It suggests that those with intimate knowledge of the company’s operations and prospects believe the stock is undervalued or poised for growth, leading to a positive impact on the stock price.

UNITY shares were last trading at Rs. 29.35 today.