Covid Recovery Pulse - Sep 25, 2020 - ICICI Securities

- E-Way bill generation shows recovery signs with auto volumes flat

- Vahan registrations were up marginally by ~3% week-on-week to ~56,000 units during September 21-24, i.e. ~70% of pre-Covid levels. This is compared to ~68% levels last week.

- E-Way bill generation for September (till September 20) began on a strong note reaching 3.6 crore. If we extrapolate this and compare to the average bill generation in the months prior to Covid-19 (October 2019-February 2020) it has reached ~100% levels of the average 5.5 crore bills. E-Way bill generation for April, May, July and August hovered at 16%, 46%, 79%, 88% and 90% levels, respectively.

For details, click on the link below: https://www.icicidirect.com/mailimages/IDirect_CovidRecoveryPulse_25Sep20.pdf

Source : Equity Bulls

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