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In the last week, the Indian market has stayed flat, though the Communication Services sector saw a notable gain of 4.7%. With the market up 45% over the past year and earnings forecasted to grow by 17% annually, investors may find dividend stocks particularly appealing for their potential to provide steady income alongside capital appreciation.
Top 10 Dividend Stocks In India
| Name | Dividend Yield | Dividend Rating |
| Balmer Lawrie Investments (BSE:532485) | 3.85% | ★★★★★★ |
| D. B (NSEI:DBCORP) | 5.34% | ★★★★★☆ |
| VST Industries (BSE:509966) | 3.15% | ★★★★★☆ |
| Indian Oil (NSEI:IOC) | 7.92% | ★★★★★☆ |
| Bharat Petroleum (NSEI:BPCL) | 5.89% | ★★★★★☆ |
| NMDC (BSE:526371) | 3.24% | ★★★★★☆ |
| Balmer Lawrie (BSE:523319) | 3.10% | ★★★★★☆ |
| Redington (NSEI:REDINGTON) | 3.07% | ★★★★★☆ |
| Bank of Baroda (NSEI:BANKBARODA) | 3.04% | ★★★★★☆ |
| PTC India (NSEI:PTC) | 3.70% | ★★★★★☆ |
Click here to see the full list of 16 stocks from our Top Indian Dividend Stocks screener.
Below we spotlight a couple of our favorites from our exclusive screener.
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 ₹1.55 trillion.
Operations: Bharat Petroleum Corporation Limited generates revenue primarily from its Downstream Petroleum segment, amounting to ₹5.07 billion, and the Exploration & Production of Hydrocarbons segment, which contributes ₹1.92 billion.
Dividend Yield: 5.9%
Bharat Petroleum Corporation Limited (BPCL) has a dividend payout ratio of 33.3%, indicating dividends are well covered by earnings and cash flows. However, the company's dividend payments have been volatile over the past decade despite recent increases. BPCL's price-to-earnings ratio of 8.1x is attractive compared to the Indian market average of 34.6x, but its earnings are forecasted to decline by an average of 12.8% per year for the next three years, raising concerns about future dividend sustainability amidst high debt levels and declining profitability evidenced by recent quarterly results showing a significant drop in net income from ₹106.44 billion to ₹28.42 billion year-over-year as of June 2024.
D. B
Simply Wall St Dividend Rating: ★★★★★☆
Overview: D. B. Corp Limited operates in newspaper printing and publishing, radio broadcasting, and digital news platforms for news and event management in India and internationally, with a market cap of ₹56.73 billion.