Deven Choksey expects 18–20% equity returns; spots potential in recently listed Jaro Education

Deven Choksey, Managing Director at DRChoksey FinServ Pvt, on Thursday said that Nifty50 stocks are likely to deliver a decent appreciation over the next few years. "I believe that equity on a sustainable basis has the potential to give you around 18 to 20 per cent return during the next three to five years from the current base," the market veteran told Business Today . Advertisement

He cautioned that mid- and small-cap stocks may remain vulnerable due to the heavy flow of initial public offerings (IPOs). "Mid- and small-caps are likely to remain vulnerable, mainly because a large number of IPOs are hitting the market. Many IPO investors, including institutions, tend to flip their investments quickly. We have seen this happen in cases like LG Electronics and more recently with Tata Ca