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The Indian market has shown robust performance recently, with a 1.2% increase over the last week and an impressive 45% rise over the past year. In this context of strong market growth and positive earnings forecasts, dividend stocks can be particularly appealing for investors looking for potential income combined with capital appreciation opportunities.
Top 10 Dividend Stocks In India
| Name | Dividend Yield | Dividend Rating |
| Balmer Lawrie Investments (BSE:532485) | 3.82% | ★★★★★★ |
| Gulf Oil Lubricants India (NSEI:GULFOILLUB) | 3.37% | ★★★★★☆ |
| D. B (NSEI:DBCORP) | 3.58% | ★★★★★☆ |
| HCL Technologies (NSEI:HCLTECH) | 3.26% | ★★★★★☆ |
| Indian Oil (NSEI:IOC) | 8.25% | ★★★★★☆ |
| Bharat Petroleum (NSEI:BPCL) | 6.60% | ★★★★★☆ |
| VST Industries (BSE:509966) | 3.64% | ★★★★★☆ |
| Oil and Natural Gas (NSEI:ONGC) | 3.69% | ★★★★★☆ |
| Redington (NSEI:REDINGTON) | 3.01% | ★★★★★☆ |
| PTC India (NSEI:PTC) | 3.62% | ★★★★★☆ |
Click here to see the full list of 16 stocks from our Top Indian Dividend Stocks screener.
Underneath we present a selection of stocks filtered out by our screen.
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 ₹2.34 trillion.
Operations: Indian Oil Corporation Limited generates revenue primarily from petroleum products, which contributed approximately ₹83.35 billion, and petrochemicals with about ₹2.62 billion in revenue.
Dividend Yield: 8.3%
Indian Oil Corporation Limited (IOC) offers a dividend yield of 8.25%, ranking in the top 25% of Indian dividend payers, though its history reveals both volatility and unreliability in payouts over the last decade. Despite this, dividends are well-covered by earnings with a payout ratio of 39.6% and cash flows at 56.8%. However, IOC's financial outlook is clouded by an expected average earnings decline of 22.3% annually over the next three years, casting uncertainty on future dividend sustainability despite current coverage levels. Additionally, recent strategic moves include forming joint ventures aimed at enhancing biofuel adoption and battery swapping services for electric vehicles, aligning with broader environmental goals but also adding layers to its operational focus.
Oil and Natural Gas
Simply Wall St Dividend Rating: ★★★★★☆
Overview: Oil and Natural Gas Corporation Limited (NSEI: ONGC) is engaged in the exploration, development, and production of crude oil and natural gas both domestically in India and internationally, with a market capitalization of approximately ₹4.17 trillion.