ICICI Direct - Covid Recovery Pulse - March 11, 2022 - Daily Vahan registrations maintain positive momentum...

Daily Vahan registrations maintained the positive momentum and were broadly stable week on week with current MTD reading coming in at ~67,430 units i.e. ~84% of pre-Covid levels on MTD March 2022 vs. ~67,000 units clocked till last week i.e. ~84% of pre-Covid levels. With economic activity on the upswing and improving mobility trends, we expect the vehicle registration in the current month to close at ~85% of pre-Covid levels.

E-Way bill generation for February (till February 27) ended on a strong note, reaching 6.6 crore. If we compare this to the average bill generation in the months prior to Covid-19 (October 2019-February 2020), it has reached ~125% of the average 5.5 crore bills. E-Way bill generation for April, May, June, July, August, September, October, November, December and January hovered at 107%, 73%, 100%, 117%, 120%, 123%, 134%, 111%, 130% and 125%, respectively.

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Link to the report

Source : Equity Bulls

Keywords

ICICIDirect CovidRecoveryPulse DailyVahanRegistration Economy EwayBillGeneration