In a notification sent to the PSX on 29/03/2024, Shifa International Hospital (SHFA) reported a transaction by the spouse of one of its non-executive directors.
The transaction was carried out by Taimoor Shah, who is a part of the Senior Management of the company. He bought a total of 22,000 shares of the company at a price of Rs. 137.55 per share. The total amount for this transaction stands at Rs. 3,026,100.
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.
SHFA shares were last trading at Rs. 137.56 today.
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