Markets Movers: ITC’s Covid-19 nasal spray gives investors unexpected surprise

markets movers itcs covid 19 nasal spray gives investors unexpected surprise

Sumary of Markets Movers: ITC’s Covid-19 nasal spray gives investors unexpected surprise:

  • Media reports earlier today said that the FMCG company has started clinical trials of a nasal spray for the prevention of Covid-19. If the nasal spray proves to be effective, it will add a shot in the arm of the company and a very important revenue source in the short term.
  • RIL’s gasification news triggers short squeeze It seems reports that the Adani family may have become the richest in Asia at the expense of the Ambanis did not sit down well with the latter’s investors.
  • Shares of the company rallied over 6 per cent in one of the biggest moves for the stock this year aided by some hefty short-covering by traders.
  • However, the actual trigger for the short covering was not the loyalty of investors but Morgan Stanley’s view that the demerger of the gasification unit by RIL could actually be a trigger for bigger things to come.

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