UBL reports insider transaction of Rs.84 million

In a notification sent to the PSX on 19/04/2024, United Bank Limited (UBL) reported a transaction by the Senior Management.

The transaction was carried out by Muhammad Jawaid Iqbal, who is Senior Management.

He bought a total of 435000 shares of the company for Rs. 194.19 per share. The total amount for this transaction stands at Rs. 84,472,650.

<p>Investors often interpret an insider buying stock in a company as a positive signal. It suggests that those with intimate knowledge of the company’s operations and prospects believe the stock is undervalued or poised for growth, positively impacting the stock price.

The shares of UBL were last trading at Rs. 197.20 today.