Covid Recovery Pulse - Nov 30, 2020 - Festive positivity continues in auto retails, e-way bill generation improves...

Upbeat festive sales continue to reflect in November Vahan data, with registrations reaching pre-Covid levels at ~80,000 units (November 2020 MTD daily average) for the first-time post pandemic. Positivity looks set to continue as Vahan data comes with a two to four weeks lag.

E-Way bill generation for November began on a strong note reaching 4.1 crore. If we compare this to the average bill generation in the months prior to Covid-19 (October 2019-February 2020) has reached ~101% 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_27Nov20.pdf

Source : Equity Bulls

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