RCML reports insider transaction worth over Rs 30 million

In a notification sent to PSX on 11/06/2024, Reliance Cotton Spinning Mills Limited (RCML) announced an insider transaction carried out by multiple substantial shareholders.

The transaction was carried out by multiple substantial shareholders. They merged-in a total of 443,792 shares of the company at a price of Rs. 67.82 per share. The total amount for this transaction stands at Rs. 30,097,680.

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.

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RCML shares were last trading at Rs. 451.98 today.

⚠️ This post reflects the author’s personal opinion and is for informational purposes only. It does not constitute financial advice. Investing involves risk and should be done independently. Read full disclaimer →