In This Article:
In the last week, the Indian market has stayed flat, though the Utilities sector saw a notable gain of 4.5%. With the market up 45% over the past year and earnings forecast to grow by 17% annually, selecting dividend stocks with strong fundamentals can be a strategic way to boost your portfolio in these conditions.
Top 10 Dividend Stocks In India
| Name | Dividend Yield | Dividend Rating |
| Balmer Lawrie Investments (BSE:532485) | 3.41% | ★★★★★★ |
| D. B (NSEI:DBCORP) | 5.02% | ★★★★★☆ |
| HCL Technologies (NSEI:HCLTECH) | 3.23% | ★★★★★☆ |
| VST Industries (BSE:509966) | 3.50% | ★★★★★☆ |
| Indian Oil (NSEI:IOC) | 7.90% | ★★★★★☆ |
| Bharat Petroleum (NSEI:BPCL) | 6.05% | ★★★★★☆ |
| NMDC (BSE:526371) | 3.07% | ★★★★★☆ |
| Redington (NSEI:REDINGTON) | 3.06% | ★★★★★☆ |
| Bank of Baroda (NSEI:BANKBARODA) | 3.12% | ★★★★★☆ |
| PTC India (NSEI:PTC) | 3.58% | ★★★★★☆ |
Click here to see the full list of 17 stocks from our Top Indian Dividend Stocks screener.
Here we highlight a subset of our preferred stocks from the screener.
Bharat Petroleum
Simply Wall St Dividend Rating: ★★★★★☆
Overview: Bharat Petroleum Corporation Limited refines crude oil and markets petroleum products in India, with a market cap of ₹1.51 trillion.
Operations: Bharat Petroleum Corporation Limited generates revenue primarily from its Downstream Petroleum segment (₹5.07 billion) and also engages in the Exploration & Production of Hydrocarbons (₹1.92 million).
Dividend Yield: 6.1%
Bharat Petroleum's dividend payments have been volatile over the past decade, despite a low payout ratio of 33.3% and strong earnings coverage. The company trades at a favorable P/E ratio of 7.9x compared to the Indian market average, but its high debt level and forecasted earnings decline by 12.8% annually for the next three years raise concerns about future dividend sustainability. Recent Q1 financials showed a significant drop in net income to ₹28.42 billion from ₹106.44 billion year-over-year.
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Click to explore a detailed breakdown of our findings in Bharat Petroleum's dividend report.
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Our valuation report unveils the possibility Bharat Petroleum's shares may be trading at a discount.
Redington
Simply Wall St Dividend Rating: ★★★★★☆
Overview: Redington Limited offers supply chain solutions both in India and internationally, with a market cap of ₹158.33 billion.
Operations: Redington Limited generates revenue through its supply chain solutions provided across various sectors in India and globally.
Dividend Yield: 3.1%
Redington's dividend yield of 3.06% ranks in the top 25% of Indian dividend payers, with payments increasing over the past decade despite some volatility. The company's payout ratios—39.8% for earnings and 50.6% for cash flows—indicate sustainable dividends. Trading at a P/E ratio of 13x, below the market average, it offers good value relative to peers. Recent AGM announcements included a dividend declaration of ₹6.20 per share and an increase in authorized share capital.