PGKS reports insider transaction worth Rs 5.5 million

In a notification sent to the PSX on 24/06/2024, Packages Limited (PKGS) reported a transaction by a substantial shareholder.

The transaction was carried out by Mr. Parween Baber Ali, who is the wife of Syed Babar Ali.

She bought a total of 10,950 shares of the company at a price of Rs. 507.27 per share. The total amount for this transaction stands at Rs. 5,554,606.5.

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.

PKG shares were last trading at Rs. 514.08 today.