Most of us must have heard of the 1992 securities scam and more so after the scam 1992 series which created a huge buzz in the country regarding the stock market. In that web series, we got a hang of the magnanimity of the whole stock market scam and the mastermind of the fraud- Harsha Mehta.
Who is Manu Manek Mundra?
But in the same series, we came across another shrewd stock market broker who ruled the stock market in those times before Harshad Mehta. That person is none other than Manu Manek Mundra, also known as the Black Cobra of the stock market.
As we have seen in Scam 1992 that how Manu Manek used to make the stock market dance to his tunes before the arrival of Harshad Mehta and how most successful investors and traders like Rakesh Jhunjhunwala and Rakesh Damani who can be also the next big bull of stock market after death of Rakesh Jhunjhunwala used to closely follow him and learned their initial tricks and trades of the stock market from Manu Manek.
Some who were associated with the stock market during those times say that his influence was so strong that directors of companies were elected on the whims and fancies of Manu Mundra and companies also used to consult him before paying dividends on stock.
If the companies did not take his approval then they used to suffer a lot as he was a bear operator and he would bring down the share prices of the company by using his short-selling technique and influence over the market which we would find out how in the blog. Apart from that he had great relations with many brokers who used to lend him shares which he would then short in the market.
What is Manu Manek’s net worth
At the time of his death, Manu Manek’s net worth was estimated to be around $50 million.