NONS reports an insider transaction worth Rs 4.9 million

In a notification sent to the PSX on 03/06/2024, Noon Sugar Mills Limited (NONS) reported a transaction by a substantial shareholder.

The transaction was carried out by Mr Taimoor Hayat Khan Noon, who is a substantial shareholder. He bought a total of 46820 shares of the company at a price of Rs. 105.15 per share. The total amount for this transaction stands at Rs. 4923296.6.

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.

NONS shares were last trading at Rs. 100.1 today.