Real Story of Harshad Mehta

Harshad Mehta : Real Story

Harshad Shantilal Mehta was born on 29 July 1954 at Paneli Moti, Rajkot District in a Gujarat Jain Family. His father was small-time textile businessman. He studied at Janta Public School. A cricket lover showed no promise in school. Graduated (b.com) in 1976 from Lala Lajpatrai College, Mumbai.

For first 8 years he worked in a number of odd jobs related to sales, selling hosiery, cement, and sorted diamonds.Later he got interested in stock market and worked as a jobber (a mediator appointed by broker to sell the stocks). This is where his story begins he got a glimpse how the stock market works.His boss (broker) earns a lot of profit so he resigned and opens his own brokerage firm GrowMore Research and Asset Management with financial assistance of associates, when the BSE auctioned a broker's card.

He started to trade in 1986. By 1990 a number of people began to invest in his firm and utilize his services. During that period the media started naming as the BIG BULL .

He began heavily trading in Associated Cement Company (ACC) due to this the price of the shares began to rose from rs 200 to rs 9000 because of massive buying of shares from brokers including Mehta.

As Harshad entered into Money Market he had gained a lot of name in the market,he promised banks a higher rate of interest while asking them to transfer money to his personal account which he actually used to buy stocks and earn profit.He used faked bank receipts to convince the bankers and moved from one bank to another making a chain.This helped him to raise a lot of funds which uplifted the market by 440%. This was the biggest jump ever seen at that time. 

And here enters the another character Sucheta, a journalist reveals all the behind scam with just a car lexas owned by Harshad which costedd about 40 lakhs at that time.All his story ends and he ends up in the jail and dies because of chest pain in jail in 2001.