Posted by: Aamir Hayat
Post Date: June 11, 2024
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.
| Sr. | Description | Date | Nature | No. of Shares | Rate | Result |
|---|---|---|---|---|---|---|
| 1 | ATMZ COMPANY (PVT) LTD (Substantial Shareholder) | 2024-06-10 | Merger-In | 110062 | 67.36 | 7,413,776.32 |
| 2 | ATMZ COMPANY (PVT) LTD (Substantial Shareholder) | 2024-06-10 | Merger-In | 886 | 124.88 | 110,643.68 |
| 3 | RESOURCE CORPORATION (PVT) LTD. (Substantial Shareholder) | 2024-06-10 | Merger-In | 110062 | 67.36 | 7,413,776.32 |
| 4 | RESOURCE CORPORATION (PVT) LTD. (Substantial Shareholder) | 2024-06-10 | Merger-In | 886 | 124.88 | 110,643.68 |
| 5 | CHANNEL HOLDINGS (PVT) LTD. (Substantial Shareholder) | 2024-06-10 | Merger-In | 110062 | 67.36 | 7,413,776.32 |
| 6 | CHANNEL HOLDINGS (PVT) LTD. (Substantial Shareholder) | 2024-06-10 | Merger-In | 886 | 124.88 | 110,643.68 |
| 7 | SYNERGY HOLDINGS (PVT) LTD. (Substantial Shareholder) | 2024-06-10 | Merger-In | 110062 | 67.36 | 7,413,776.32 |
| 8 | SYNERGY HOLDINGS (PVT) LTD. (Substantial Shareholder) | 2024-06-10 | Merger-In | 886 | 124.88 | 110,643.68 |
| Total | 443,792 | 67.82 | Rs. 30,097,680 |
RCML shares were last trading at Rs. 451.98 today.
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