ICICI Direct - Covid Recovery Pulse - E-Way bill posts growth in March 2021...

Vahan daily registrations have averaged ~71,200 units, ~89% of pre-Covid levels on an MTD basis in March 2021 - up from ~87% average as of last week. We expect positive momentum to continue in the next week.

E-Way bill generation for March began on a strong note reaching 4.9 crore. If we compare this to average bill generation in the months prior to Covid-19 (October 2019-February 2020), it has reached ~129% of average 5.5 crore bills. E-Way bill generation for April, May, July, August, September, October, November, December, January and February hovered at 16%, 46%, 79%, 88%, 90%, 104%, 116%, 105%, 116%, 114% and 116% levels, respectively.

For details, click on the link below: https://www.icicidirect.com/mailimages/IDirect_CovidRecoveryPulse_26Mar21.pdf

Source : Equity Bulls

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