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Bull’s Eye! The Amazing Upward Of Indian Stock Markets

The country’s bourses have ridden the waves and staved off downturns to stay on course for their record-breaking journeys

Bull’s Eye! The Amazing Upward Of Indian Stock Markets
Bull Run

July 29, 2021, was the 67th birth anniversary of ‘Big Bull’ Harshad Mehta, an ambitious and optimistic investor-speculator who played a crucial role in inculcating and deepening the investment cult in the Indian capital market. On that day, social media was flush with backhanded eulogies on the master manipulator. “Happy Birthday legend…Thank you for creating interests of many haters towards stock market…They will hate you but can’t ignore you.”

During his short life of 47 years—he died on December 31, 2001—Mehta used unethical, and sometime illegal, means to play the markets. In a Bollywood movie inspired by Mehta, the protagonist is warned by the head of the stock exchange: “What you do is insider trading. There is no law against it in India. In the US, you would be in the prison for decades.” Mehta’s character retorts: “Bring in the law, and then I will think about it.”

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