MTL reports insider transactions worth Rs. 41.843 million in one week

In multiple notifications sent to the PSX during the last week, Millat Tractors Limited (MTL) reported some insider transaction by its non-executive directors.

The transactions were carried out by Mr. Laeeq ud din Ansari, who is a non-executive director.

He bought a total of 71,518 shares of the company for Rs. 585 per share on average. The total amount for this transaction stands at Rs. 41,843,630.

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.

MTL shares were last trading at Rs. 587.56 today.