Harshad Mehta In his first office, New India Assurance Company Limited, he worked as a salesperson in Mumbai.This was the first time he felt some sort of interest in the stock market. But, after some time, he joined a new brokerage firm.
This went on the same way for ten years. In 1990, he was recognised as the “Amitabh Bachchan of the Stock Market” by Business Today magazine. That was the time when he achieved some prominence in the industry.
Mehta started his active participation in the stock market in 1986 by buying the Associated Cement Company shares. He hiked the price from 200 to 9,000, which he explained with the “replacement cost theory.” He articulated that the shares were undervalued, which got hiked with the company’s revaluation.
The media started to recognise him as “The Big Bull”. Mehta has been seen on the cover page of various publications, like Business Today. The magazine created an article titled “Raging Bull” with the specifications of his 15,000 square foot penthouse, a mini-golf course, a fleet of cars like the Toyota Sera and Lexus LS400, and his swimming pool.
However, this did not go far as the man had been put in charge of manipulating the rise of the Bombay Stock Exchange.