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The Indian market has shown robust performance recently, with a significant climb of 45% and gains of 1.9%, alongside earnings forecasted to grow by 16% annually. In this context, selecting dividend stocks that offer potential for steady income and growth aligns well with the current upward trajectory of the market.
Top 10 Dividend Stocks In India
| Name | Dividend Yield | Dividend Rating |
| Balmer Lawrie Investments (BSE:532485) | 4.12% | ★★★★★★ |
| Bhansali Engineering Polymers (BSE:500052) | 2.83% | ★★★★★★ |
| D. B (NSEI:DBCORP) | 3.65% | ★★★★★☆ |
| ITC (NSEI:ITC) | 3.20% | ★★★★★☆ |
| Castrol India (BSE:500870) | 2.99% | ★★★★★☆ |
| HCL Technologies (NSEI:HCLTECH) | 3.41% | ★★★★★☆ |
| Indian Oil (NSEI:IOC) | 8.23% | ★★★★★☆ |
| VST Industries (BSE:509966) | 3.72% | ★★★★★☆ |
| Redington (NSEI:REDINGTON) | 3.27% | ★★★★★☆ |
| PTC India (NSEI:PTC) | 3.67% | ★★★★★☆ |
Click here to see the full list of 18 stocks from our Top Dividend Stocks screener.
Let's review some notable picks from our screened stocks.
D. B
Simply Wall St Dividend Rating: ★★★★★☆
Overview: D. B. Corp Limited operates in newspaper printing and publishing, radio broadcasting, and digital news platforms, along with event management services both domestically and internationally, with a market capitalization of approximately ₹63.53 billion.
Operations: D. B. Corp Limited generates revenue primarily through its printing and publishing business, which contributed ₹22.43 billion, and its radio segment, which added ₹1.59 billion.
Dividend Yield: 3.6%
D. B. Corp Limited recently declared an INR 8 per share interim dividend, reflecting a payout ratio of 80% of the face value, with a record date set for June 3, 2024. Despite this recent increase, the company's dividend history over the past decade has been marked by volatility and inconsistency. Financially, D. B. Corp reported a significant earnings growth to INR 4,255.23 million for FY2023-24 from INR 1,690.85 million in the previous year and maintains a sustainable payout with earnings coverage at 54.4% and cash flows at 43.6%.
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Get an in-depth perspective on D. B's performance by reading our dividend report here.
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The valuation report we've compiled suggests that D. B's current price could be quite moderate.
Gulf Oil Lubricants India
Simply Wall St Dividend Rating: ★★★★★☆
Overview: Gulf Oil Lubricants India Limited is engaged in the manufacturing, marketing, and trading of lubricants for the automotive and industrial sectors in India, with a market capitalization of approximately ₹65.01 billion.
Operations: Gulf Oil Lubricants India generates revenue primarily through the sale of lubricants, amounting to ₹33.01 billion.