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.
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