ICICI Direct - Covid Recovery Pulse - E-Way bill for September 2021 ends on strong note...

Daily Vahan registrations have dipped in the first week of October 2021, primarily tracking the usual slow start to the month as well as inauspicious period as per Hindu Calendar. On an MTD basis, in October 2021, average daily registrations were at ~47,400 units, ~60% of pre-Covid levels. Registrations are expected to pick up meaningfully as we approach the festive season. However, it is expected to be constrained, particularly in the PV space, due to lower OEM production amid global chip shortage.

E-Way bill generation for September ended on a strong note, reaching 6.8 crore. If we compare this to the average bill generation in the months prior to Covid-19 (October 2019-February 2020), it has reached ~123% levels of the average 5.5 crore bills. E-Way bill generation for January, February, March, April, May, June, July and August hovered at 114%, 116%, 129%, 107%, 73%, 100%, 117% and 120% levels, respectively.

For details, click on the link below: Link to the report

Source : Equity Bulls

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ICICIDirect CovidRecoveryPulse EwayBill September2021