HINOON insider selling worth over Rs 6.6 million

In a notification sent to the PSX on 06/05/2024, Highnoon Laboratories Limited (HINOON) reported a transaction by the non-executive director.

The transaction was carried out by Mr. Ghulam Hussain Khan, who is a non-executive director.

He sold a total of 11600 shares of the company at a price of Rs. 569.99 per share. The total amount for this transaction stands at Rs. 6,611,884.

An insider selling stock in a company can sometimes raise concerns among investors.

It may indicate various factors such as profit-taking, liquidity needs, or a shift in sentiment regarding the company’s prospects.

HINOON shares were last trading at Rs. 570.00 today.