In This Article:
In the last week, the Indian market has risen by 1.6%, contributing to an impressive 44% increase over the past 12 months, with earnings forecasted to grow by 17% annually. In such a robust market environment, identifying strong dividend stocks like Bank of Baroda and others can be a prudent strategy for investors seeking steady income and potential growth.
Top 10 Dividend Stocks In India
| Name | Dividend Yield | Dividend Rating |
| Castrol India (BSE:500870) | 3.26% | ★★★★★★ |
| Balmer Lawrie Investments (BSE:532485) | 4.38% | ★★★★★★ |
| D. B (NSEI:DBCORP) | 4.77% | ★★★★★☆ |
| Indian Oil (NSEI:IOC) | 8.17% | ★★★★★☆ |
| Bharat Petroleum (NSEI:BPCL) | 6.09% | ★★★★★☆ |
| VST Industries (BSE:509966) | 3.56% | ★★★★★☆ |
| Balmer Lawrie (BSE:523319) | 3.22% | ★★★★★☆ |
| Redington (NSEI:REDINGTON) | 3.34% | ★★★★★☆ |
| PTC India (NSEI:PTC) | 3.81% | ★★★★★☆ |
| Bank of Baroda (NSEI:BANKBARODA) | 3.10% | ★★★★★☆ |
Click here to see the full list of 16 stocks from our Top Indian Dividend Stocks screener.
Let's explore several standout options from the results in the screener.
Bank of Baroda
Simply Wall St Dividend Rating: ★★★★★☆
Overview: Bank of Baroda Limited offers a range of banking products and services to individuals, government departments, and corporate customers both in India and internationally, with a market cap of ₹1.27 trillion.
Operations: Bank of Baroda Limited generates revenue primarily from Corporate/Wholesale Banking (₹502.78 billion), Retail Banking - Other Retail Banking (₹512.25 billion), Treasury operations (₹316.82 billion), and Other Banking Operations (₹110.76 billion).
Dividend Yield: 3.1%
Bank of Baroda's dividend payments are well covered by earnings with a payout ratio of 20.9%, and this is expected to remain stable at 22.1% over the next three years. Despite its volatile dividend history, the stock offers a competitive yield in India's top 25% for dividend payers. Recent strategic moves include launching a co-branded travel debit card with EaseMyTrip.com, which could enhance customer engagement and potentially support future profitability and dividends.
Bharat Petroleum
Simply Wall St Dividend Rating: ★★★★★☆
Overview: Bharat Petroleum Corporation Limited primarily engages in refining crude oil and marketing petroleum products in India and internationally, with a market cap of ₹1.50 trillion.
Operations: Bharat Petroleum Corporation Limited's revenue segments include ₹5.07 billion from Downstream Petroleum and ₹1.92 billion from Exploration & Production of Hydrocarbons.