Covid Recovery Pulse - Average daily auto registrations, E-Way bill generation show recovery signs - ICICI Securities

Daily vehicle registrations continued to touch fresh highs over the past week. June 18 registrations touched ~60% of pre-Covid levels - the highest count till date post the pandemic disruption. June 15-18 average daily registrations were at ~56% of pre-Covid levels vs. ~43% last week.

E-Way bill generation for H1 of June continued its momentum on a strong note reaching 1.9 crore, which if we extrapolate and compare to the average bill generation in the months prior to Covid-19 (October 2019-February 2020) has reached ~70% of the average 5.5 crore bills. E-Way bill generation for April, May hovered at 16%, 46% levels, respectively.

For details, click on the link below: https://www.icicidirect.com/mailimages/IDirect_CovidRecoveryPulse_19Jun20.pdf

Source : Equity Bulls

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