"Harshad Mehta: The Rise and Fall of India's 'Big Bull' in the 1990s".

Harshad Mehta was an infamous stockbroker and investor in India during the late 1980s and early 1990s. He was widely known as the "Big Bull" for his ability to move the stock market with his trading strategies. Mehta's rise to fame and fortune was meteoric, but his fall was equally spectacular, as he became embroiled in one of the biggest financial scandals in Indian history.


Mehta was born in Rajkot, Gujarat in 1954, and started his career as a small-time stockbroker in the early 1980s. However, he quickly gained a reputation as a shrewd investor and started making big bets in the stock market. Mehta's most famous trade was in 1992 when he cornered the market on shares of ACC, a leading cement company in India. Mehta's buying spree caused the price of ACC shares to skyrocket, making him and his investors millions of dollars in profits.

Mehta's trading strategies were based on a loophole in the Indian banking system, which allowed him to borrow money from banks at low-interest rates and invest it in the stock market. Mehta used this money to buy stocks, which he would then use as collateral to borrow even more money. He would then use this money to buy even more stocks, creating a vicious cycle that drove up the prices of the shares he was buying.

Mehta's success in the stock market made him a celebrity in India. He became a regular feature in the media and was known for his flamboyant lifestyle, which included luxury cars, yachts, and a sprawling penthouse apartment in Mumbai's posh Worli neighborhood. However, Mehta's success was short-lived. In 1992, the stock market crashed, and Mehta's house of cards came tumbling down.

Mehta was accused of fraudulently obtaining funds from banks and manipulating the stock market. He was arrested in November 1992 and spent several months in jail before being released on bail. Mehta continued to maintain his innocence and fought his case in court for several years. However, in 2001, he died of a heart attack before the case could be resolved.
Mehta's legacy is mixed. On one hand, he was a self-made man who rose from humble beginnings to become one of India's richest and most successful investors. On the other hand, his methods were unethical and illegal, and his actions caused significant damage to the Indian stock market and the banking system. Mehta's story serves as a cautionary tale about the dangers of unchecked ambition and the importance of ethical behavior in business and finance