TCORP reported an insider transaction worth Rs 3.4 million

In a notification sent to the PSX on 07/05/2024, Tariq Corporation Limited (TCORP) reported a transaction by the substantial shareholder.

The transaction was carried out by Mr. Danish Elahi, who is a substantial shareholder. He bought a total of 232,000 shares of the company at a price of Rs. 14.99 per share. The total amount for this transaction stands at Rs. 3,477,680.

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.

The shares of TCORP were last trading at Rs. 15.01 today.