businessfortnight

Sydney:  Asian stocks, closing in on their worst year since 2011, got some relief on the last day of 2018 after U.S. President Donald Trump reported “big progress” in trade talks with his Chinese counterpart. The yen declined. Equities gained in Hong Kong and Australia, along with S&P 500 Index futures, after Trump said in a tweet that negotiations were “moving along very well” toward a comprehensive deal and Chinese state media cited President Xi Jinping as saying he believed both sides wanted “stable progress.” Trading will be thin with major markets in Japan and China closed and shortened sessions elsewhere. Oil extended gains on the trade optimism. Asian stocks rise over hopes of easing Us-China trade war The positive sentiment was damped a bit after a gauge of China’s manufacturing industry missed estimates to decline in December, underscoring concern over the slowing domestic economy. The manufacturing purchasing managers index fell to 49.4, falling below 50 — the line betwe

New York:  Asian stocks climbed on Thursday after the biggest rally in U.S. equities since 2009 offered relief from this month’s wrenching global market downturn. Japanese benchmarks jumped about 4 percent at the open and Australian shares advanced more than 1 percent as trading resumed after holidays there. Korean stocks were flat, however, and U.S. futures dipped, suggesting the follow-through from the blow-out session on Wall Street — where key indexes climbed about 5 percent or more — has limits. Crude oil prices built on gains of more than 8 percent overnight. Ten-year Treasury yields are holding around 2.80 percent. Some 99 percent of S&P 500 members finished in the green, the Dow Jones Industrial Average jumped more than 1,050 points for its biggest-ever point gain. Asia stocks jump on biggest US rally since 2009 “We’re going to have a lot of volatility. But this base case of ‘the world is coming to an end,’ just given the fundamental data out there, doesn’t make any sense.

Zydus Cadila has received final approval from the US health regulator to market Doxycycline Hyclate delayed-release tablets, used to treat bacterial infections. Zydus Cadila gets USFDA nod for 2 drugs Zydus Cadila has received the final approval from the United States Food and Drug Administration (USFDA) to market the drug in the strengths of 75 mg, 100 mg and 150 mg, the company said in a BSE filing. Zydus Cadila said the drug will be produced at the group’s formulations manufacturing facility at SEZ, Ahmedabad. The group has also received tentative approval for Febuxostat tablets in the strengths of 40 mg and 80 mg, used to treat hyperuricemia (constantly high levels of uric acid) in adults who have gout. The group has more than 241 approvals, and so far filed over 340 abbreviated new drug applications (ANDAs) since it started filings in 2003-04. Shares of Cadila Healthcare, the listed entity of the group, were trading 0.13 per cent lower at Rs 341.60 per scrip on BSE. source: money

17 th  Dec 2018:  Bajaj Auto, one of India’s leading automobile companies, has launched the new Platina 110 to provide customers with a new standard in ride comfort. The new Platina 110 couples breakthrough comfort, with higher torque than any bike in its class for an effortless ride, even on inclines. In addition to superior comfort and performance, this stylish bike has additional safety as well. Bajaj Auto launches the new Platina 110 The new Platina 110 is the first bike in its class to come with Anti-Skid Braking System as standard. Anti-Skid braking delivers an even brake force on both wheels for safer riding at all riding conditions and speeds. The Platina 100 ES is already acknowledged to be the most comfortable bike in its class with 20% lesser jerks.  The new Platina 110 is even more comfortable: It is equipped with a first-in-class Spring-on-Spring suspension with Nitrox Gas charged shock absorbers to absorb jerks from all types of roads. It offers a stress free journey bot

The government is planning to introduce amendments to the Drugs and Cosmetics Act, 1940 which will provide compensation to patients if they are sold a faulty medical device by a manufacturer or importer. The decision has been taken in the backdrop of the uproar caused earlier this year in India and abroad over defective hip implants from US-based Johnson & Johnson. Govt plans new rule to get patients compensation for defective medical devices The proposal to reimburse people affected by faulty medical devices will be taken up at the Drug Technical Advisory Board (DTAB), scheduled a week from today, Business Standard reported while quoting sources. If the proposed amendments get the green flag from DTAB, they will be tabled before the health ministry for approval. While in a nascent stage, a decision could be taken on the proposal by the end of this fiscal, the report added. While some stakeholders believe amending the Drugs and Cosmetics Act to include compensations is a quick and

29 th  November, 2018:    Bajaj Auto, leader in the sports motorcycle segment has introduced the all new Pulsar 150 Neon collection. The all new Pulsar 150 Neon 2019 collection comes with a young and peppy styling along with the sporty appeal and is for customers looking at a bike with size and performance above the 100/110 cc offerings. The new Pulsar 150 Neon is made available at an exciting introductory price of ₹ 64,998/- ex showroom Delhi and is available across all Bajaj Auto dealerships in India. Bajaj Auto launches the new Pulsar 150 Neon 2019 Collection The new Pulsar 150 Neon offers an all new color and graphic scheme with irresistible Neon Red, Neon Yellow (with Matt Black Paint) and Neon Silver color accents that makes it young and peppy. The Pulsar 150 Neon dons color coordinated headlamp eyebrows, Pulsar logo, side-panel mesh and alloy grab rail.  A 3D logo on the rear cowl and the colored alloy wheel decal complete giving it a premium sportsbike appearance. Commenting o

Indian rupee and bond prices gained on Tuesday after consumer price inflation slowed to a 13 month low which eased fears of expected rate hike in the near term. At 9.15am, the home currency was trading at 72.72 a dollar, up 0.24% from its Monday’s close of 72.89. The currency opened at 72.79 a dollar. Rupee, bond prices gains as retail inflation eases to 13-month low The 10-year government bond yield stood at 7.773% from its previous close of 7.804%. Bond yields and prices move in opposite directions. Retail inflation unexpectedly eased in October to 3.31% from 3.7% a month ago on the back of lower prices of pulses, vegetables and sugar while factory output—measured by the index of industrial production (IIP)—decelerated to 4.5% in September from a revised 4.7% in the previous month as manufacturing growth eased. Core inflation rose to an uncomfortably high 6.1% in October, led by services such as health, as well as the impact of commodity prices on the inflation for transport and com

Mangalore: October :  Following highly successful launches in Karnataka, Tamil Nadu, Kerala & AP & Telangana, Tata Hitachi rolled out the all New backhoe loader,  TATA HITACHI SHINRAI  today in the city of Mangalore. Announcing the launch of the all new Backhoe Loader, TATA HITACHI SHINRAI A revolutionary new offering from Tata Hitachi,  SHINRAI  is designed and manufactured on the key tenets of capability and reliability. An engineering masterpiece, this machine, with its new and advanced features, stands true to its name:  SHINRAI  – a Japanese word that means  Trust, Reliability and Confidence. With Industry leading reaches, dig forces, a brand new front end loader geometry and a design built for attachments;  Tata HITACHI SHINRAI  is a truly capable machine.  This capability is backed by a “high torque at low rpm” engine with enough reserve power across its entire spectrum to provide confidence in its capabilities. With a spacious, cabin with easy to work controls, fully m

Mumbai:  A green mobility startup backed by TVS Motor Co. Ltd plans to launch a premium electric motorcycle, equivalent of 200-250cc and capable of reaching a top speed of 150kmph. The motorcycle, to be launched in the second half of 2019, will be India’s fastest and most powerful electric two-wheeler, Ultraviolette Automotive Pvt Ltd founders Niraj Rajmohan and Narayan Subramaniam said in an interview. The fastest 200cc bike is here. And it’s electric The three-year-old Bengaluru-based startup claims the motorcycle, now in its fourth generation, has outperformed similar fuel-driven bikes in “design, performance, user and ownership experience” but will be offered at a similar price point to increase accessibility of electric technology. The electric bike will be Ultraviolette’s first launch, with the first prototype having been built in June 2016 and several versions tested for over 10,000km, the company said. “Our intent, when we started out, was not to build the best electric bike b

Envision a pharmaceutical plant where people are watchful and attentive as the business responds to change quickly and efficiently. As digital transformation ensues to disrupt, transform and reshape industries we can now picture an operation that delivers consistent production, real-time information and accurately controlled and safe processes that comply to the regulatory and demanding requirements of the pharmaceutical industry. Product quality is affected by factors such as fluctuations in the quality of raw materials and the aging of manufacturing facilities. To help address such problems, manufacturers are turning to digital technologies and solutions such as AI, big data, and Industrial Internet of Things (IIoT).Time has come for co-innovating tomorrow. sajiv nath Modernising Pharma Manufacturing with co-innovation The pharmaceutical industry has recognized the value of automation as we have come to recognize that industrial automation is a business tool, not just a control t

The initial public offering (IPO) of railway engineering and construction firm Ircon International, which opened for subscription on Monday, will close today. Shares of Ircon will be listed on both the NSE and the BSE. The government is selling a 10% stake, or 0.99 crore shares, at a price band of Rs 470-475 per equity share. At the higher end of the price band, the shares are estimated to fetch over Rs 470 crore. As of 11:45 am today, Ircon IPO was subscribed 1.63 times, according to NSE data. The lot size is a minimum 30 shares and in multiples of 30 shares thereafter. Retail investors and eligible employees applying for Ircon shares will be offered a discount of Rs 10 per share. Ircon IPO: Last day to subscribe, key things to know before you invest Investors can apply up to a maximum of Rs 2 lakh in the retail category and above 2 lakh in the HNI category.  At the end of Day 1, the Ircon IPO was subscribed 29%, according to NSE data, with retail segment subscribed 86%. In June this

New Delhi:  With the union cabinet approving the complete electrification of broad-gauge railway tracks by 2022, power demand by Indian Railways is set to double in the next four years. The power requirement for broad gauge will increase from 2,000 megawatts (MW) to 3,400MW, while the two dedicated freight corridors will require another 600MW, according to a railway official, requesting anonymity. Power will be procured by Railway Energy Management Co. Ltd (REMCL), a joint venture of the Indian Railways and RITES Ltd. 100% railway electrification to double power demand by 2022 Set up in 2013, REMCL is primarily responsible for tapping the business potential of the energy sector. It currently caters to 60% of railways’ power needs. “As per our estimates, broad-gauge electrification will increase power demand from present 2,000MW to 3,400MW. The 2,000MW is only for train operations and if we add non-traction consumption like use of electricity at workshops, railway stations, offices, et

Mumbai:  The proposed 4% stake sale in SBI General Insurance Co. has drawn interest from at least three global private equity investors, including KKR, Singapore’s Temasek Holdings Pvt. Ltd and Canada Pension Plan Investment Board (CPPIB), two people directly aware of the development said, requesting anonymity. “All the above funds have expressed initial interest and are expected to submit the binding bids but more bidders are expected to place bids,” said one of the persons cited above. The sale process, which was announced by the State Bank of India (SBI) in August, is being managed by Kotak Investment Banking. SBI General Insurance stake sale attracts KKR, Temasek, CPPIB Emails sent to SBI, Kotak Investment Banking and CPPIB remained unanswered until press time, while spokespeople for Temasek and KKR declined to comment. The 4% stake sale is part of the pre-offer valuation exercise of SBI General Insurance before its planned initial public offering (IPO) by the end of March this ye

With the festive season about to begin, many people will begin scouting the market for good deals on cars. While car manufacturers usually refrain from giving discounts on newly launched models, dealers tend to offer some freebies at their end to attract customers to new as well as old car models. But it’s possible that despite the freebies, the price tag may be holding you back, when it comes to your favourite car or model. In that case, you can take a look at the used car market in the country. The used car market in the country is growing fast, and it is quite likely that you may get your favourite car model—which is not very old—at an attractive price. Click here for enlarge Remember that a lot of people prefer used cars, despite having the money to buy a new one, because car is a depreciating asset. Also, a lot of first-time drivers prefer a used car for initial driving practice. To help make your decision easier, we looked at a list of used cars compiled by OLX India, a class

Through the tumult of the past few decades, one fixture has remained constant on Indian roads—the humble motor scooter. From the elegant Lambrettas of the 1960s that our grandfathers rode, to the spanking new Athers that our children desire, the scooter has remained our favourite mode of transport. With approximately 200 million two-wheelers on road, India is by far the largest market, globally, for motorcycles and scooters. Most middle-class Indians, even those who do not have a scooter, learn how to ride one at an early age. Even car owners prefer to commute by two-wheelers by a factor of 4 to 1. This makes India an ideal market for technology disruption on two-wheelers. Click here for enlarge We have just invested in one such company, Vogo, that uses mobile and internet-of-things (IoT) to let you ride a scooter from anywhere to anywhere. Vogo offers a simple service: Use their app to find a scooter near you, ride it to wherever you want, and leave it there for the next customer

Life Insurance is not about investing your money to earn a return on it, it’s about financial protection for your loved ones. And the most efficient way to do that is through a term insurance policy. This policy does not invest your money which means you pay only for insurance and after the policy term ends you don’t get any money back. But on death during the policy term, it pays a huge corpus to the nominees that can help them tide over any financial crunch and ensure their live are not thrown out of whack. A term plan is the only kind of life policy you need to have because it gives you a large cover for low cost. Read here to know more about term plans. However keep in mind that buying a term plan also needs due diligence at your end when filling up the insurance policy form called as the proposal form. Read here to understand what determines your experience of buying a term insurance policy: Click here for enlarge Further, there are many types of term plan to choose from and y

New Delhi:  India is set to cap trade margins on medical devices, abandoning the current price control mechanism, as it seeks to curb profiteering as well as allay concerns of device makers, particularly importers of stents and knee implants, who have complained that price caps hurt innovation, two people aware of the matter said. Prime Minister Narendra Modi is likely to accept government think tank NITI Aayog’s recommendation to cap trade margin at 65% for medical devices, the people said on condition of anonymity. According to NITI Aayog’s formula, the maximum retail price (MRP) of a device will be decided by adding the trade margin to the price at the first point of sale (stockist). The trade margin is the difference between the price at which the manufacturers/importers sell to stockists and the price charged to consumers. The prime minister on Wednesday held a meeting with senior officials of NITI Aayog, the secretary, ministry of health, the secretary, department of pharmaceuti

In June, Railway Minister Piyush Goyal had declared a target of doubling the national transporter’s revenue to Rs 4 lakh crore by 2025. One of the ways he hopes to achieve that is by enhancing freight capacity since it already accounts for 65 per cent of its total revenues. In fact, the buzz is that the Indian Railways wants to increase its share of total freight movement from 33 per cent to 45 per cent. No wonder it is now looking beyond the 3,300-km long eastern and western freight corridors currently being constructed. Railways may invest Rs 44,000 crore on West Bengal-Andhra Pradesh freight corridor According to The Economic Times, the Indian Railways plans to invest Rs 44,000 crore to build a 1,100-km greenfield freight corridor along the country’s east coast to connect Kharagpur in West Bengal with Vijaywada in Andhra Pradesh. In other words, this proposed corridor – likely to be announced in the budget proposal for 2019-20 – will link up the mineral-rich areas of the country wi

New Delhi:  Harley-Davidson, Inc. plans to launch motorcycles in the small and mid-sized segment as it unveiled a major change in its strategy to target young buyers in emerging markets such as India and China. Harley-Davidson gears up to take on Royal Enfield The US-based company, famed for its big bikes, also plans to forge a strategic alliance with another motorcycle maker to develop and sell these motorcycles in these markets, Harley-Davidson said on Monday. Harley’s planned entry into the market for small and mid-capacity motorcycles is aimed at expanding its customer base and to drive growth in India, one of the world’s largest and fastest-growing markets, as well as other Asian markets. “The bold actions we are announcing today leverage Harley-Davidson’s vast capabilities and competitive firepower—our excellence in product development and manufacturing, the global appeal of the brand and of course, our great dealer network,” said Matt Levatich, president and chief executive off

Recently, SEBI has come out with a consultation paper titled “Designing a Framework for Enhanced Market Borrowings by large Corporates”. It is a nudge to corporates to access the bond market rather than rely only on bank funding. It says companies with more than Rs 100 crore in long-term borrowing should raise 25 percent or more of their funds through bond issuance. The objective is, the companies will have a wider funding base, there will be scrutiny by more entities than just lending banks and with more instruments on offer, it will deepen the bond market. Advantages from a broad perspective A delay of even a single day in honouring interest servicing means default tag on the bond and downgrade in credit rating. After a downgrade of credit rating, due to any delay in coupon payment, while it is theoretically possible to come back to the earlier credit rating, it is not easy, and it is time consuming as the default tag stays forever. Things are relatively easier in case of bank loans

New Delhi:  Old train coaches which were discarded and auctioned as scrap earlier could soon be converted into theme-based restaurants. If everything goes according to plan, then such train-theme restaurants will come up all over the country in the next few years. The Railway Board wants to generate more revenue and provide employment with such stylish food outlets. Railways has been operating rail museums and heritage parks in different parts of the country. Some of them receive substantial footfall. It is in these museums and parks that the Railway Board wants its zonal offices to set up the restaurants. PTI quoted a senior railway official as saying that the Railways might convert and refurbish its overage coaches into rail theme-based restaurants to cater to the general public. The Railways has already tasted success with the popularity of Shan-e-Bhopal, India’s first multi-cuisine rail-coach restaurant which attracts both tourists and locals for its unique ambience and delicacies

Delhi/Bengaluru:  Automobile industry body SIAM on Friday asked all stakeholders to resolve the ongoing transporters’ strike, saying it has severely impacted the sector in the last few days. The ongoing strike by truckers has disrupted production and sales of vehicles in the country, as well as exports, resulting in losses for carmakers, the Society of Indian Automobile Manufacturers (SIAM) said today. SIAM calls for early resolution of transporters’ strike The SIAM said its members were facing “unprecedented crisis” as the strike was affecting the movement of vehicles and components supply. “Many of domestic consignments are held up on roads, which has disrupted the supply chain and completely derailed the production at assembly lines of some companies,” SIAM’s Deputy Director General Sugato Sen said in a statement. The All India Motor Transport Congress (AIMTC), an organisation of transporters that has organised the strike, is demanding a cut in federal and state levies on diesel by

New Delhi:  The expert panel which recommended a continuation of the ban on fixed dose combinations (FDCs) has found that many FDCs were formulated without due diligence, with dosing mismatches that could result in toxicity. Panel finds dosing mismatches in many FDCs The committee found that most pharma companies had not generated the “safety and efficacy data” of their own FDCs. After reviewing 349 fixed drug combinations (FDCs), the expert panel of the health ministry on Wednesday recommended that 343 of them be “prohibited” and the remaining six “restricted or regulated”. According to the experts, the pharma companies whose products were under scrutiny provided “irrelevant” data that relied on biased studies. “In FDCs where there is a dosing mismatch among the ingredients, FDC use would result in toxicity. An inability to adjust doses of individual ingredients is specially risky, if an ingredient has a narrow safety margin,” reads the executive summary of the report, reviewed by 

Shares of Dr Reddy’s Laboratories gained over a percent on Thursday morning as investors bet on the stock ahead of Q1 results. The numbers will be declared later in the day. The stock touched an intraday high of Rs 2,118.45 and an intraday low of Rs 2,075.60. The drug maker is likely to report a four-fold jump in the first quarter of FY19, led by low base of previous year, when sales were affected by the GST rollout. The company will also benefit with sales of US complex generic portfolio holding out despite pricing pressure and lack of major approvals. India business is expected to grow 30 percent YoY on a favourable base. In the first quarter of FY18, the company posted a profit of Rs 66.6 crore. A Reuters poll of analyst forecasts an increase in net profit to Rs 302.8 crore. It estimates revenue to rise 21.48 percent YoY to Rs 3946.8 crore in Q1FY19. HDFC Securities expects topline of Dr Reddy’s to grow 10 percent YoY. “With no big product launches in the US, Dr Reddy’s to report o

New Delhi:  Pharmaceutical companies awaiting report on the safety of those fixed dose combinations (FDCs) that were earlier banned by the ministry of health and family welfare are unlikely to get a breather. The expert panel probing the efficacy of 349 (344+5) banned FDCs is likely to reinforce the ban. According to the people with knowledge of the development, out of 349 drugs under scrutiny, only three are likely to get relief. The panel will give its report to India’s top drug advisory body, the Drug Technical Advisory Board (DTAB), in a meeting slated to happen on 25 July, thereby settling the dust on the fate of “irrational” FDCs in India. Panel reviewing efficacy of 349 FDCs may reinforce ban As per the same people quoted above, the panel after considering these drugs “irrational”, citing safety issues and lack of therapeutic justification, has recommended continuing the ban. Panel reviewing efficacy of 349 FDCs may reinforce ban However, three drugs are likely to come out of t

Hero MotoCorp, the country’s largest two-wheeler maker, is expected to post a 10 percent increase in its net profit for the quarter ended June on the back of a sustained rise in demand for budget bikes. According a poll of 21 analysts done by Reuters, the company’s net profit is seen rising to Rs 1,001 crore for the quarter under review, up from the Rs 914 crore reported for the corresponding quarter last year. The Delhi-based maker of motorcycles and scooters will announce its June quarter results on Wednesday, July 25. The company, which makes bikes under the brands Splendor, HF Dawn, Karizma, and scooters under the brands Maestro, Pleasure and Duet, saw its volumes grow 14 percent to over 2.1 million units during the quarter. Domestic sales grew 14 percent year on year to 2.06 million units, while exports grew slightly slower at 9 percent to 46,287 units. The company’s is seen reporting a total revenue of Rs 9,067 crore for the reporting quarter, around 5 percent higher than its re

Gurugram-based bike taxi startup, Baxi has raised an undisclosed amount in a latest funding round from several investors in partnership with renowned consumer products brand Patanjali. Motorbike taxi startup Baxi to start delivery app in partnership with Patanjali Talking about the funding round, Johri said that the co-founder of fintech startup Indifi Technologies was one of investors in the company. He added that new investors who participated in the round were Ashish Chhaparwal, founder of US-based children transportation firm KidzJet, Mohit Khurana and Deekshant Sahrawat, co-founders of Roots Education and Ramesh Awtaney, founder and chairman of information technology firm ISON Technologies. According to Johri, the startup will use the capital to launch its hyperlocal ordering app, which will deliver groceries, pharmaceuticals, health supplements, personal care products, food and dairy products to customers. He confirmed that they have partnered with FMCG manufacturer Patanjali fo

Suzuki Motorcycles, the lesser known two-wheeler subsidiary in India of the Japanese auto giant, on Thursday launched the Burgman Street that was showcased at this year’s New Delhi Auto Expo. Priced at Rs 69,000, it is billed as India’s first “maxi scooter”, loosely defined as big touring scooters that have engines bigger than 250cc. The Street, however, has a 125cc engine, which it shares with the company’s existing Access scooter though it has looks inspired by its bigger siblings from Suzuki’s global Burgman portfolio. This is Suzuki’s third scooter in India after the Access and the 113cc Lets and comes at a time when the scooter segment has started showing signs of slow growth after years of exponential increase in sales. In the first quarter of this year, sale of scooter in the country grew by 10.35 per cent at 1.8 million units while mobikes grew 19.47 per cent at 3.65 million units. Till last year, the situation was the reverse. In 2017-18 scooters had grown by 19.90 per cent a

Her name is Cherry and she is the smallest baby ever born in India. At birth, she was just about 26 cms in length – that is about the size of your palm — and weighed 375 grams, making her perhaps the smallest not just in India but in the whole of South Asia. Normally, babies at birth weigh between 2.5 kg and 3 kg. Cherry was born on February 27 and was kept in the hospital for 128 days after her birth, under a high-end incubator and ventilator at an advanced neonatal intensive care unit. She was finally discharged weighing 1.98 kg. She weighs 2.4 kg now. 375 grams to 2.4 Kg: Smallest baby ever born in India survives, thrives According to Dr Dinesh Kumar Chirla, director, neonatology and Paediatric Intensive Care at Rainbow Children’s Hospital, where she was born, today 10 per cent of all deliveries in India run the risk of being premature. That is less than 37 weeks. Cherry was born in 25 weeks and therefore womb-like conditions had to be created with right humidity and temperature

BMW Motorrad, the superbike arm of the German luxury car giant on Wednesday launched its most affordable and small superbike yet — the G310R and G310S at Rs 2.99 lakh and Rs 3.49 lakh respectively. The bikes mark the foray of the company in the fast growing sub 500cc segment and will be produced at its partner home-grown TVS Motor Ltd’s Hosur factory. Powered by a newly developed 313cc water cooled single cylinder 4 stroke engine, the bikes have a maximum power output of 34 bhp and torque of 28 Nm. They can accelerate from 0-50 kph in 2.3 seconds and have a top speed of 143 kmph. BMW Motorrad launches G310R and G310S at Rs 2.99-3.49 lakh The launch of these two bikes succeeds the Apache 310R in December 2017. Essentially the same product, Apache 310R is the mobike being sold by TVS under its brand name. Courtesy the lower premium that the TVS nameplate commands compared to a BMW, the Apache is priced at a more reasonable Rs 2.05 lakh. “We have a legacy of creating motorcycles with a u