Caspian Corporate Services Announces Major Expansion Plan & Bonus shares: Stock hits upper circuit

Caspian Corporate Services Limited has announced exciting developments following their recent board meeting. The company plans to issue bonus shares, increase shareholder value, and expand its authorized share capital to accommodate future growth. These strategic moves highlight Caspian’s commitment to rewarding its investors and scaling operations.

After the latest board meeting, the company has unveiled plans to issue bonus shares, a strategic move aimed at rewarding current shareholders and attracting new investors.

**Issuance of Bonus Shares**

On June 27, 2024, the Board of Directors announced their intention to issue bonus shares within the next month. The record date for these bonus shares will be announced soon, and only those who hold shares before this date will be eligible. This incentive has already sparked a buying frenzy, as analysts strongly recommend acquiring the stock immediately to capitalize on this opportunity.

**Strategic Expansion Plans**

In addition to the bonus shares, Caspian Corporate Services plans to increase its authorized share capital and make necessary amendments to the Memorandum of Association and Articles of Association. These measures are designed to support the company’s ambitious expansion plans and ensure sustainable growth.

Stock Performance and Analyst Recommendations

Caspian’s stock has been performing exceptionally well, reaching an all-time high of Rs. 71 on June 28, 2024. With a 'Buy' rating from MarketsMojo, the stock has outperformed its sector by 3.94% and achieved a 9.44% return over the last four days. Analysts predict that the stock price could double in the next one to two months, driven by the upcoming issuance of bonus shares and the company’s major expansion plans.

**Investor Sentiment*

Investors have already begun to react positively, with increased buying activity pushing the stock price upward. Caspian Corporate Services is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating strong market sentiment and momentum.