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Over the last 7 days, the Indian market has dropped 4.7%, driven by pullbacks in every sector. In contrast to the last week, the market is up 39% over the past year, with earnings forecast to grow by 17% annually. In such a fluctuating environment, dividend stocks can offer stability and income potential for investors looking to navigate these market conditions effectively.
Top 10 Dividend Stocks In India
| Name | Dividend Yield | Dividend Rating |
| Balmer Lawrie Investments (BSE:532485) | 3.61% | ★★★★★★ |
| D. B (NSEI:DBCORP) | 5.17% | ★★★★★☆ |
| HCL Technologies (NSEI:HCLTECH) | 3.26% | ★★★★★☆ |
| VST Industries (BSE:509966) | 3.63% | ★★★★★☆ |
| Indian Oil (NSEI:IOC) | 8.13% | ★★★★★☆ |
| Bharat Petroleum (NSEI:BPCL) | 6.11% | ★★★★★☆ |
| Redington (NSEI:REDINGTON) | 3.22% | ★★★★★☆ |
| NMDC (BSE:526371) | 3.17% | ★★★★★☆ |
| Bank of Baroda (NSEI:BANKBARODA) | 3.12% | ★★★★★☆ |
| PTC India (NSEI:PTC) | 3.72% | ★★★★★☆ |
Click here to see the full list of 18 stocks from our Top Indian Dividend Stocks screener.
Here we highlight a subset of our preferred stocks from the screener.
Coal India
Simply Wall St Dividend Rating: ★★★★☆☆
Overview: Coal India Limited, along with its subsidiaries, is involved in the production and marketing of coal and coal products in India, with a market cap of ₹3.28 trillion.
Operations: Coal India Limited generates revenue primarily from its coal mining and services segment, amounting to ₹1.35 trillion.
Dividend Yield: 4.8%
Coal India, with a dividend yield of 4.8%, ranks in the top 25% of Indian dividend payers. Despite earnings growth of 38.6% last year and a low payout ratio (42%), its dividends are not well covered by free cash flows due to a high cash payout ratio (1226%). The company's P/E ratio (8.7x) suggests good value compared to the broader market. Recent strategic alliances may bolster future stability but past dividend volatility remains a concern.
Oil and Natural Gas
Simply Wall St Dividend Rating: ★★★★★☆
Overview: Oil and Natural Gas Corporation Limited (NSEI:ONGC) explores for, develops, and produces crude oil and natural gas in India and internationally, with a market cap of ₹3.85 trillion.
Operations: Oil and Natural Gas Corporation Limited's revenue segments include ₹96.69 billion from operations outside India, ₹5.72 billion from refining and marketing within India, ₹441.92 million from onshore exploration and production in India, and ₹953.81 million from offshore exploration and production in India.
Dividend Yield: 3.7%