Manu Manek: The Great Short Seller of the Indian Stock Market

Manu Manek, often referred to as the “Black Cobra” of Dalal Street, was one of the most influential and feared traders in the Indian stock market during the 1970s and 1980s. Known for his bear cartel operations and aggressive short-selling strategies, Manek played a pivotal role in shaping stock market trends before the arrival of Harshad Mehta, the “Big Bull”.

Who Was Manu Manek?

Name: Manu Manek
Designation: Stockbroker & Market Operator
Organisation/Company: Various private trading firms (Exact affiliations remain unknown)
Twitter Handle: Not Available
YouTube Handle/Channel: Not Available
Website/Education Blogs: Not Available
Net Worth as of 2024: Estimated $50 million

Birth and Early Life

Manu Manek was born between 1948 and 1952 in Kolkata, India, into a Marwari family. His early life remains largely undocumented, but it is believed that he completed his graduation in commerce or finance before stepping into the world of stock trading.

His deep understanding of the stock market and trading mechanics soon made him a dominant figure in Bombay Stock Exchange (BSE), where he eventually formed the infamous Bear Cartel.

How Manu Manek Built His Stock Market Empire?

The Rise of the Bear Cartel

Manu Manek controlled stock prices through short-selling techniques and speculative trades, often forcing companies to buy back their stocks at inflated prices. His group, famously called the Bear Cartel, included future stock market legends like:

Radhakishan Damani (Founder of D-Mart)
Rakesh Jhunjhunwala (Warren Buffett of India)
Other notable bear traders

His strategies revolved around short-selling, a technique where stocks are sold at higher prices and bought back at lower prices, leading to massive profits.

Clash with Harshad Mehta

Manu Manek’s dominance over the market was challenged by Harshad Mehta, a strong bull trader who believed in inflating stock prices rather than betting against them.

The clash between Manu Manek and Harshad Mehta led to some of the biggest stock market battles in Indian history. While Manu Manek focused on bringing stock prices down, Mehta countered it with market rigging and artificial price inflation.

This battle eventually led to the 1992 Harshad Mehta Scam, which was exposed by Sucheta Dalal.

Books & Articles Written on Manu Manek

Although Manu Manek never wrote books himself, he has been mentioned in several financial books and stock market articles. Some of the most notable books include:

“The Scam: Who Won, Who Lost, Who Got Away” by Sucheta Dalal & Debashis Basu – Buy Here
“The Bull of Dalal Street” by Mehta Ketan – Check it Out

Major Investments & Business Strategies

Manu Manek was a master of short-selling and market manipulation. His major investments were primarily in:

Weak and overvalued stocks, where he could profit from price drops
Corporate stocks under pressure, forcing companies to buy back their own shares
Manipulated bear trades, influencing stock prices artificially

His success came from predicting stock market movements before others and using fear as a tool to gain profits.

Personal Life, Wife & Family

Unlike many prominent stock market figures, Manu Manek kept his personal life entirely private. There is no public record of his wife, children, or family background.

Some financial analysts believe that his secrecy helped him stay ahead in the stock market, as he was not publicly accountable for his actions.

Key Achievements & Legacy

Dominance Over the Indian Stock Market (1970s-1980s): Manu Manek controlled Dalal Street before Harshad Mehta’s rise.
Mentor to Future Billionaires: He influenced Radhakishan Damani & Rakesh Jhunjhunwala, two of India’s greatest investors.
Introduced Aggressive Short-Selling in India: He pioneered bear cartel trading strategies, shaping stock market regulations.

Even though Manu Manek was overshadowed by Harshad Mehta’s rise, his impact on stock trading strategies in Indiaremains legendary.

Explore More: Top Investors of India

Final Thoughts on Manu Manek

Manu Manek remains a mysterious yet legendary figure in the Indian stock market. While Harshad Mehta became famous through scams and media coverage, Manek operated secretly, influencing the biggest stock trades without public attention.

His strategies still influence modern-day stock traders, short-sellers, and hedge fund managers. Whether seen as a villain or a genius, his legacy in Dalal Street is undeniable.

FAQs About Manu Manek

Q1: Why was Manu Manek called the Black Cobra?
A: He was feared for his aggressive short-selling strategies, which destroyed stock prices like a cobra’s deadly bite.

Q2: Who was Manu Manek’s biggest rival?
A: His biggest challenge came from Harshad Mehta, who countered his bear cartel with a bullish stock market approach.

Q3: What was Manu Manek’s net worth?
A: At the time of his death, his net worth was estimated to be $50 million.Q4: Did Manu Manek write any books?
A: No, but he has been featured in books like The Scam by Sucheta Dalal.