Covid Recovery Pulse - June 2021 ends on brighter note, July sees healthy revival - ICICI Direct

Daily Vahan registrations remain firmly on the recovery path. July 2021 volumes are now up 26% MoM on MTD basis amid state specific unlocking under way. They have averaged ~69,800 units, ~87% of pre-Covid levels vs. ~69% in the previous month. We expect the ongoing strength to persist in coming weeks.

E-Way bill generation for July began on a strong note, reaching 5.5 crore. If we compare this to the average bill generation in the months prior to Covid-19 (October 2019-February 2020), it has reached ~104% of the average 5.5 crore bills. E-Way bill generation for January, February, March, April, May and June hovered at 114%, 116%, 129%, 107%, 73% and 100% levels, respectively.

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Source : Equity Bulls

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