Covid Recovery Pulse - Festive positivity continues in auto retails, E-way bill generation improves... - ICICI Direct

Vahan daily average vehicle registrations continued to hover around the ~72,000 unit mark on an MTD basis i.e. ~90% of pre-Covid levels. Vahan data comes with a two to four week lag, with present prints continuing to reflect festive period positivity.

E-way bill generation for November began on a strong note reaching 2.9 crore. If we compare this to the average bill generation in the months prior to Covid-19 (October 2019-February 2020), it has reached ~105% levels of the average 5.5 crore bills. E-Way bill generation for April, May, July, August, September and October hovered at 16%, 46%, 79%, 88%, 90%, 104% and 116% levels, respectively.

For details, click on the link below: https://www.icicidirect.com/mailimages/IDirect_CovidRecoveryPulse_20Nov20.pdf

Source : Equity Bulls

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