NSE shares: Deven Choksey lists reasons for long-term investment; calls stock 'shock absorber' in volatile markets
According to Choksey, established exchanges can benefit from the liquidity on their platforms once a product gains market share.
- Sep 23, 2026,
- Updated Sep 23, 2026 5:21 PM IST
Deven Choksey, MD of DRChoksey Finserv, sees National Stock Exchange of India Ltd (NSE) as a long-term investment, citing the nature of the exchange business, liquidity benefits for established exchanges and the scope for new products.
Speaking to Business Today Television (BTTV) on Wednesday, Choksey said he views NSE as a "deep value" investment. "The long-term investment in this case is, I think, a deep value investment largely because the exchange business is exclusive. It's not a common business. Not everybody can come into the exchange business," he said.
According to Choksey, established exchanges can benefit from the liquidity on their platforms once a product gains market share.
"When the product is established and when you have a market share in that particular product, the sheer amount of liquidity pulls the new investment or new players into the exchange platform, and that is where I think the larger exchange gets a bigger benefit out of the trading activity," he also said.
He added that NSE's cash-generating nature and dividend distribution were among the reasons for including the stock in the model portfolio.
What should investors who missed NSE IPO do?
For investors who did not receive an NSE IPO allotment, Choksey suggested a systematic investment approach and a long-term horizon.
"They should do SIP and keep buying this stock in the portfolio. Keep a horizon of at least three to five years," he said.
Choksey said he sees visibility for the exchange business over the next decade. He pointed to India's market capitalisation (m-cap) potentially rising from $5 trillion to $15 trillion over the next 10-12 years and said the exchange business could benefit if that happens.
He also highlighted the potential for new listings, citing SMEs or MSMEs seeking to raise funds from the market.
Choksey said around 60-70 per cent of exchange revenue comes from transaction income, with the balance generated from segments such as data, index products and listing fees, among others.
NSE as a 'shock absorber'
Choksey said mid-sized investors could take a more calibrated exposure based on their cash-flow requirements.
"You can call this particular stock a shock absorber in your portfolio, which would keep on giving you the comfort level during the volatile market," he concluded.
Meanwhile, shares of NSE will be admitted for trading on the Metropolitan Stock Exchange of India (MSEI) under the 'Permitted-to-Trade' category from September 24, according to a circular issued by the exchange.
The Metropolitan Stock Exchange said NSE shares would be admitted for dealing on its capital market segment under the category with effect from Thursday.
NSE's shares are also scheduled to debut on BSE Ltd on September 24 following the completion of its Rs 22,568.94-crore initial public offering (IPO).
Deven Choksey, MD of DRChoksey Finserv, sees National Stock Exchange of India Ltd (NSE) as a long-term investment, citing the nature of the exchange business, liquidity benefits for established exchanges and the scope for new products.
Speaking to Business Today Television (BTTV) on Wednesday, Choksey said he views NSE as a "deep value" investment. "The long-term investment in this case is, I think, a deep value investment largely because the exchange business is exclusive. It's not a common business. Not everybody can come into the exchange business," he said.
According to Choksey, established exchanges can benefit from the liquidity on their platforms once a product gains market share.
"When the product is established and when you have a market share in that particular product, the sheer amount of liquidity pulls the new investment or new players into the exchange platform, and that is where I think the larger exchange gets a bigger benefit out of the trading activity," he also said.
He added that NSE's cash-generating nature and dividend distribution were among the reasons for including the stock in the model portfolio.
What should investors who missed NSE IPO do?
For investors who did not receive an NSE IPO allotment, Choksey suggested a systematic investment approach and a long-term horizon.
"They should do SIP and keep buying this stock in the portfolio. Keep a horizon of at least three to five years," he said.
Choksey said he sees visibility for the exchange business over the next decade. He pointed to India's market capitalisation (m-cap) potentially rising from $5 trillion to $15 trillion over the next 10-12 years and said the exchange business could benefit if that happens.
He also highlighted the potential for new listings, citing SMEs or MSMEs seeking to raise funds from the market.
Choksey said around 60-70 per cent of exchange revenue comes from transaction income, with the balance generated from segments such as data, index products and listing fees, among others.
NSE as a 'shock absorber'
Choksey said mid-sized investors could take a more calibrated exposure based on their cash-flow requirements.
"You can call this particular stock a shock absorber in your portfolio, which would keep on giving you the comfort level during the volatile market," he concluded.
Meanwhile, shares of NSE will be admitted for trading on the Metropolitan Stock Exchange of India (MSEI) under the 'Permitted-to-Trade' category from September 24, according to a circular issued by the exchange.
The Metropolitan Stock Exchange said NSE shares would be admitted for dealing on its capital market segment under the category with effect from Thursday.
NSE's shares are also scheduled to debut on BSE Ltd on September 24 following the completion of its Rs 22,568.94-crore initial public offering (IPO).