BAFL reports insider transaction worth Rs 3.7 million

In a notification sent to the PSX on 03/06/2024, Bank Alfalah Limited (BAFL) reported a transaction by the Executive.

The transaction was carried out by Mr Syed Muhammad Asif, who is an Executive. He sold a total of 57387 shares of the company at a price of Rs. 65.00 per share. The total amount for this transaction stands at Rs. 3,730,155.

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.

BAFL shares were last trading at Rs. 160.93 today.