Harshad Mehta, a charismatic and ambitious stockbroker, rose to fame in the 1990s, captivating the dreams of middle-class Indians with his rags-to-riches story. He became a symbol of success on Dalal Street, the Indian financial market. However, his questionable means and the Rs 50-billion securities scam tarnished his image. Despite attempts at comebacks, his flashy strategies and old charm failed to work, leading to his downfall. His involvement in market manipulation, bribery claims, and legal battles led to his decline. Despite once being a guru dispensing stock tips and creating speculative bubbles, his optimism waned, and financial troubles mounted. He eventually passed away in jail, marked by convictions and trials, ending an era of his influence on Indian markets. Sucheta Dalal chronicles the story of Harshad Mehta in this article.
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