Manu Manek Mundra was the leader of the bear cartel. Manu Manek was also known as the kingpin of the market and was also recognized as The Black Cobra. He was one of the major market influencers of the 1990s.
Manu Manek Mundra was a wealthy man and had a good hold in politics and BSE. He was one of those players in the market who used to keep the market in the bearish mode.
Manu Manek Mundra made the First Bear Cartel in India. He had a group of follower’s Rakesh Jhunjhunwala, Radha Krishan Damani. He controlled the market with a single hand because of his power of money. Manu Manek was a legend until Harshad Mehta entered the Market. There was a saying that
” Mannu Bhai na Raaaj ma Market Maja ma”
The Bear Cartel use to take a selling position in the market he used to do so by reading the fundamental details about the stock. And if they found that the stock is in debt then they see the news of the stock and in case they find it negative. They just starting shorting that particular stock in the share market. As a result of this, the market starts joining negatively mainly affecting the share price of that company.
Mannu Bhai also attacked the Reliance in the ’90s but Dhirubhai Ambani knew how to tackle people like Manu Mundra. Somehow Dhirubhai managed to take tackle this bearish Attack on his company and saved the Reliance share from falling in the market. Dhirubhai plotted Anand Jain against the Mundra and asked Anand to buy as many shares as the bear cartel sells. after a time bear cartel knew it won’t be easy for them to take down reliance.
There is no verified image of Manu Manik Mundra Because he was never involved in any news.
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