Manu Manek is also known as the stock market’s Black Cobra. Manu Manek is thought to have been born sometime between 1948 and 1952. He was born in Kolkata and works as a stockbroker and entrepreneur.
Because of the mystery surrounding his appearance, the mysterious individual of Kolkata is known as the Black Cobra.
He coached Rakesh Jhunjhunwala and Radhakishan Damani, and he headed the bear cartel as well. This means that he controlled all the activities that intended to manipulate the price of the stocks, so they could earn a lot of profits. Very little is known about him on the web.
Manu Manek was most active in the 1980s, when he was able to bring the price of a share from INR 100 to INR 1 in a week. Because the BSE administration had not yet fully matured, it was possible at the time.
Manu Manek – Biography
|Also Known As||Cobra of the Stock Market|
|Born||Between 1940 and 1950|
|Place of Birth||Kolkata, India|
|Famous For||Exploits in the Stock Market, and also as a mentor to some of the top investors in India today|
Manu’s Accuracy Inside and Outside Dalal Street
Manek is a one-of-a-kind character and a brilliant administrator who is obsessed with marketing. It would have been difficult for Maneks to reach his profits without his efforts. Without getting into politics, Manek was known for picking random names, and it was observed that those people were later chosen. His accomplishment is worth his precision.
Manu Manek Personal Life
His early life is supposed to have been spent in a middle-class family. On the internet, there is no information regarding his personal life or family. Manu Manek and his wife, according to some reports, have two children. Soon after finishing his studies, he began working in the stock market.
Manu Manek Early days At Dalal Street
Maneks gesture is said to have made it impossible for any stock to rise or fall. There was nothing that happened on Dalal Street in the 1980s that Manu Malik didn’t predict. His subjects were the networks with the office/broker. Everyone believed in the cobra and never doubted his abilities.
Once he got into the stock market and learnt the tricks of the trade, he got into a brokerage business. People gave him the nickname – ‘black cobra of the stock market’ due to his accurate estimations and also the frauds and scams he pulled off. He is also believed to be an important part of the scam Harshad Mehta pulled off in 1992.
Disclaimer: This is a fictitious image of Manu Manek. It’s a still from the 1992 film Scam.
Manu Manek in Scam 1992
According to the information available openly, few instances happened when Harshad Mehta crossed paths with Manu Manek. In the stock market particularly, Manu Manek received a short position and Harshad Mehta received a long position. While Harshad Mehta expanded his purchases, Manu Manek spread rumours that Harshad had lost more than INR 1 crore in the stock exchange. It was done to degrade the credibility of Harshad Mehta. But at the end, Harshad Mehta emerged victorious for pulling off his scam.
Manu Manek Real Photo
Manu Manek and Ambani
Reliance had just begun entering the public market at the time Manu Manek was strong, and it was a corporation that followed excellent business fundamentals. Throughout the 1980s, Manek attempted to assault the enterprises, but Dhirubhai Ambani, who valued his shareholders much, decided to intervene. Reliance was later taken over by Mukesh Ambani (son of Dhirbhai Ambani) and Anand Jain.
The bear cartels started selling the shares they were given. Anand Jain and other close confidants bought the Reliance shares that were sold in order to control the price and value of the company in the market.
Instead of defeating Manu Maneks strategy, this raised the price of Reliance shares. The bear cartels eventually ran into difficulty when they had to buy shares at a higher price.
The conflict became so severe that the Bombay Stock Exchange was forced to close for many days. Manek had to put in more money at this point, which worsened his losses. Finally, Manu Manek acknowledged defeat and managed his losses by selling the shares to Anand Jain at a better price.
Some Facts about Manu Manek
- According to certain sources, Manu Manek used to enter the stock market after the price of a share had risen dramatically.
- He sorted the stocks for two days, increasing the selling pressure in the market.
- According to this logic, if the market grows, the price of a stock will decline.
- Manu Manek excelled at stock short trading.