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Harshad Mehta driven stocks today its price

 Harshad Mehta:


Harshad Mehta


The name of Harshad Mehta is became very popular between the common people after the releasing of Scam 1992 a web series based on his life and the story of India's one of the biggest scam of Rs 5000 crore. The series have breaked out all the records of Indian television shows or movies. The star casts of the series especially Pratik Gandhi who have played the role of Harshad Mehta performed very well and he is appreciated by everyone.

In the web series we have watched that how Harshad Mehta pumping the market by using banking and other institutional funds and rising the prices of his selected shares. Harshad Mehta have manupulated the price of many companies but most of the where no more in existence after when the scam reaveled by Sucheta Dalal. In this article we have covered the stock which are influenced by Harshad Mehta and today it's price. 


Table of contents:

Stocks Influenced by Harshad Mehta-

1) ACC (Associate Cement Companies Ltd):

2) Videocon:

3) Sterlight Industries:

4) BPL (British Physical Laboratories Ltd): 


1) Associate Cement Companies Ltd (ACC) :

Market Cap: 35.28 Trillion crore    P/E: 21.23


ACC


ACC Cement is one of the biggest Cement manufacturer India. ACC Cement is established in 1936 by merging 11 Cement companies which are owned by Tatas, Khataus, Killick Nixon and F E Dinshaw business groups to make a single entity. 

Inspite of this ACC is one of the major player in Cement sector Harshad Mehta have manipulated the share price of ACC by using his value theory. He convinced his clients to invest in ACC by saying that company management have undervalued its business. 

In early 90's the share price of ACC was prevailing at Rs 200/ share in the market. Harshad Mehta by using his banking funds raised its prices to nearly to Rs 9000/ share in just 3 months.

After 29 years later ACC shares are trading between Rs 1800 to Rs 2200/ shares. 

2) Videocon:

Market Cap: 150 crore           P/E: NA


Videocon


Videocon Company was incorporated in the year 1985 by Nandlal Madhavlal Dhoot in Aurangabad. Videocon is the first one which bringed the colour TV in India. 

After, the scam was revealed in front of everyone Harshad Mehta was banned to deal in securities market. But, he never stopped. 

In 1998, he has taken up videocon share from Rs 51 to Rs 168 i.e. 232% return in just 3 months. Even that BSE sensex was fallen by 11%. 

But, due to failure of Pokharan II  test market again collapsed and Harshad Mehta again came in the eyes of CBI. 

In 2004 a great revolution came in television sector in 4 years the stock reached to its all time high of approximately Rs 590. 

Due to slow down in the economy the videocon shares starts falling. Today videocon shares are trading between Rs 4 to Rs 5.

3) Sterlite Industries:

Market Cap: 9164 crore           P/E: 33.72


Sterlite industries


Sterlite Industries are established in the year 1975. The company operates in the field of metals and mining activities. Vedanta Ltd is the parent company of sterlite industries.

In an investigation of CBI the truth is cames out that the company management have given funds to Mehta's Damayanti group to rig the share price of the company. 

Between April and June 1998 the share price of the company is unexpectedly raised from Rs 272 to Rs 385.

Today it's trading price between Rs 228 to Rs 235 range. 

4) British Physical Laboratories Ltd (BPL):

Market Cap: 191 crore         P/E: 17.8


BPL


BPL was founded in the year 1963 in Palakkad, Kerala. The company deals in consumer electronics and healthcare equipments. 

The shares of the company rose by Rs 100 in February to Rs 445 in June. 

Today BPL shares are trading between Rs 35 to Rs 43 range. 

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