Grow More Research and Asset Management, with the financial assistance of associates, when the BSE auctioned a broker's card. He actively started to trade in 1986. By early 1990, a number of eminent people began to invest in his firm, and utilize his services. It was at this time that he began trading heavily in the shares of Associated Cement Company (ACC). The price of shares in the cement company eventually rose from 200 to nearly 9,000 due to a massive spate of buying from a set of brokers including Mehta. Mehta justified this excessive trading in ACC shares by stating that the stock had been undervalued, and that the market had simply corrected when it revalued the company at a price equivalent to the cost of building a similar enterprise; the so-called "replacement cost theory" that he had put forward.