ILP reports insider transactions worth over Rs 11 million

In a notification sent to the PSX on 07/06/2024, Interloop Limited (ILP) reported a transaction by the executive. The transaction was carried out by Mr. Tariq Rashid Malik, who is an executive. He sold a total of 145000 shares of the company at a price of Rs. 81.35 per share. The total amount for this transaction stands at Rs. 11796922.

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.

ILP shares were last trading at Rs. 80.24 today.