SITC reported an insider transaction worth over Rs. 2.7 million

In a notification sent to the PSX on 14/05/2024, Sitara Chemical Industries Limited (SITC) reported a transaction by the executive director.

The transaction was carried out by Mrs. Zomia Anees, who is the wife of Mr Haseeb Ahmad who holds the position of executive director.

She sold a total of 10,000 shares of the company for Rs. 276.04 per share. The total amount for this transaction stands at Rs. 2,760,400.

An insider selling stock in a company is often interpreted as a significant development by investors. It may signal various insights, including confidence in the company’s future prospects or other strategic considerations.

SITC shares were last trading at Rs. 295.00 today.