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

Daily vehicle registrations averaged ~44k units i.e. ~55% of pre Covid levels during the week (July 20-23) vs. ~50% levels seen in July 20-23.

E-Way bill generation for July (up to July 26) continued its momentum on a strong note reaching 3.9 crore. If we extrapolate this and compare it to the average bill generation in the months prior to Covid-19 (October 2019-February 2020), it has reached ~84% of the average 5.5 crore bills. E-Way bill generation for April, May and June hovered at 16%, 46% and 79%, respectively.

For details, click on the link below:https://www.icicidirect.com/mailimages/IDirect_CovidRecoveryPulse_31Jul20.pdf

Source : Equity Bulls

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