Posted by: Aamir Hayat
Post Date: May 16, 2024
Arif Habib sells Rs 78 million worth of SMCPL stock
In a notification sent to the PSX on 16/05/2024, Safe Mix Concrete Limited (SMCPL) reported a transaction by a substantial shareholder.
The transaction was carried out by Arif Habib, who is a substantial shareholder.
He sold a total of 3,776,500 shares of the company at a price of Rs. 20.71 per share. The total amount for this transaction stands at Rs. 78,215,295.
| Sr. No. | Date | Rate | Number of Shares | Total Amount | Nature |
|---|---|---|---|---|---|
| 1 | 10-May-24 | 20.67 | 3,173,000 | 65,585,910 | SELL |
| 2 | 13-May-24 | 21.48 | 102,000 | 2,191,960 | SELL |
| 3 | 14-May-24 | 20.83 | 477,000 | 9,935,910 | SELL |
| 4 | 15-May-24 | 20.47 | 24,500 | 501,515 | SELL |
| Total | — | Avg Rate (20.71) | 3,776,500 | 78,215,295 | — |
An insider selling stock in a company can sometimes be viewed cautiously by investors, as it may indicate various reasons behind the sale. However, this action alone does not necessarily imply negative sentiments.
SMCPL shares were last trading at Rs. 20.00 today.
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