Posted by: Aamir Hayat
Post Date: May 15, 2024
JVDC substantial shareholder buys stock worth Rs. 16 million
In a notification sent to the PSX on 15/05/2024, Javedan Corporation Limited (JVDC) reported a transaction by a substantial shareholder.
The transaction was carried out by Abdul Ghani, who is a substantial shareholder.
He bought a total of 448,500 shares of the company at a price of Rs. 35.63 per share. The total amount for this transaction stands at Rs. 15,989,000.
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.
| S.No | Date | Rate | No. of Shares | Transaction Nature | Amount (Rate x Shares) |
|---|---|---|---|---|---|
| 1 | 15-05-2024 | 35.60 | 300,000 | Buy | 10,680,000 |
| 2 | 15-05-2024 | 35.75 | 148,000 | Buy | 5,291,000 |
| 3 | 15-05-2024 | 36.00 | 500 | Buy | 18,000 |
| Total | (Avg Rate) 35.65 | 448500 | 15,989,000 |
JVDC shares were last trading at Rs. 37.45 today.
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