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The Indian stock market has shown robust growth, rising 2.9% in the last week and achieving a remarkable 45% increase over the past year, with earnings projected to grow by 16% annually. In this dynamic environment, high-yield dividend stocks can be particularly attractive for investors looking for both stability and strong income potential.
Top 10 Dividend Stocks In India
| Name | Dividend Yield | Dividend Rating |
| Bhansali Engineering Polymers (BSE:500052) | 4.08% | ★★★★★★ |
| Castrol India (BSE:500870) | 3.87% | ★★★★★☆ |
| HCL Technologies (NSEI:HCLTECH) | 3.82% | ★★★★★☆ |
| D-Link (India) (NSEI:DLINKINDIA) | 3.08% | ★★★★★☆ |
| Indian Oil (NSEI:IOC) | 8.34% | ★★★★★☆ |
| Balmer Lawrie Investments (BSE:532485) | 3.50% | ★★★★★☆ |
| Gujarat Narmada Valley Fertilizers & Chemicals (NSEI:GNFC) | 4.51% | ★★★★★☆ |
| VST Industries (BSE:509966) | 3.70% | ★★★★★☆ |
| Redington (NSEI:REDINGTON) | 3.45% | ★★★★★☆ |
| PTC India (NSEI:PTC) | 3.44% | ★★★★★☆ |
Click here to see the full list of 22 stocks from our Top Dividend Stocks screener.
Let's review some notable picks from our screened stocks.
Indian Oil
Simply Wall St Dividend Rating: ★★★★★☆
Overview: Indian Oil Corporation Limited operates in refining, pipeline transportation, and marketing of petroleum products across India, with a market capitalization of approximately ₹2.31 trillion.
Operations: Indian Oil Corporation Limited generates significant revenue from two primary segments: Petrochemicals, which brought in ₹2.62 billion, and Petroleum Products, accounting for ₹83.35 billion.
Dividend Yield: 8.3%
Indian Oil Corporation Limited, a significant player in the Indian energy sector, declared a final dividend of INR 7.00 per share for fiscal year 2023-2024, reflecting its commitment to shareholder returns despite recent fluctuations in earnings and management changes. The company's net income surged to INR 417.30 billion from INR 97.92 billion the previous year, showcasing robust profit growth. However, this financial upliftment is shadowed by a high level of debt and an unstable dividend track record over the last decade, raising concerns about long-term sustainability amidst forecasted declines in earnings.
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Take a closer look at Indian Oil's potential here in our dividend report.
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Our valuation report here indicates Indian Oil may be undervalued.
Oil and Natural Gas
Simply Wall St Dividend Rating: ★★★★★☆
Overview: Oil and Natural Gas Corporation Limited, operating both domestically and internationally, is involved in the exploration, development, and production of crude oil and natural gas with a market capitalization of approximately ₹3.57 trillion.
Operations: Oil and Natural Gas Corporation Limited generates revenue primarily through refining and marketing, which contributes ₹56.75 billion, followed by offshore exploration and production at ₹9.43 billion, onshore exploration and production at ₹4.39 billion, and international operations accounting for ₹0.96 billion.