IBFL reports insider transaction worth over Rs 4 million

In a notification sent to the PSX on 26/06/2024, Ibrahim Fibres Limited (IBFL) reported a transaction by a substantial shareholder.

The transaction was carried out by Ibrahim Holdings Pvt Ltd, who is a substantial shareholder. They sold a total of 10,312 shares of the company at a price of Rs. 400.00 per share. The total amount for this transaction stands at Rs. 4,124,800.

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.

IBFL shares were last trading at Rs. 400 today.