TBL reports insider transaction worth over Rs 7 million

In a notification sent to the PSX on 30/05/2024, Treet Battery Limited (TBL) reported a transaction by a substantial shareholder.

The transaction was carried out by Treet Corporation Limited, who is a substantial shareholder. It sold a total of 300000 shares of the company at a price of Rs. 23.46 per share. The total amount for this transaction stands at Rs. 7,038,000.

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.

TBL shares were last trading at Rs. 22.90 today.