CHCC reports an insider transaction worth over Rs 5 million

In a notification sent to the PSX on 24/06/2024, Cherat Cement Company Limited (CHCC) reported a transaction by the non-executive director.

The transaction was carried out by Mr. Arif Dino Faruque, who is a non-executive director.

He sold a total of 30,000 shares of the company at a price of Rs. 167.00 per share. The total amount for this transaction stands at Rs. 5,010,000.

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.

CHCC shares were last trading at Rs. 161.62 today.