Dividend Stocks: Coal India, ONGC, ITC, Power Grid among top 10 picks by Religare Broking

Dividend Stocks: Coal India, Gujarat State Fertilizer & Chemicals (GSFC), Gujarat Narmada Valley Fertilizers & Chemicals Limited (GNFC), 360 One Wam, Oil and Natural Gas Corporation , Tech Mahindra, PTC India, VST Industries ITC , Power Grid Corporation of India  are amongst top 10 dividend yield picks of Religare  Broking.

The financial statistic termed as dividend yield illustrates how much a company pays out in dividends annually in relation to the price of its stock. A dividend yield of three to five percent is seen as healthy and favorable. Nevertheless  it also depends on the market conditions and  dividend yield plays one of the important roles based on which  investors take decision on investing in the particular stock. It serves as a gauge for the profits investors are earning on their stock.

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The top stock on Religare's list of the dividend yielding stocks is Coal India, with a yield of 4.9%. In FY23 and FY22, Coal India's dividend per share stood at ₹24.3 and ₹17, respectively.

The second and the third place in the list among dividend yield stocks is occupied by  Gujarat State Fertilizers & Chemicals Ltd and Gujarat Narmada Valley Fertilizers & Chemicals.  Gujarat State Fertilizers & Chemicals Ltd and Gujarat Narmada Valley Fertilizers & Chemicals have a 4.7% dividend yield each.

The asset and wealth management firm 360 One Wam, with a 4.4% dividend yield, is the fourth important dividend-paying stock on Religare's list. The company paid out a dividend of ₹55 and ₹34.50 per share in FY22 and FY23, respectively.

Oil and Natural Gas Corporation (ONGC), A key upstream producer of oil and gas, is ranked fifth out of ten with a 4.3% dividend yield. In FY23 and FY22, ONGC distributed a dividend per share of ₹11.3 and ₹10.5, respectively.

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Among the other key companies with dividend yields of 3.7% to 4.1% are Tech Mahindra, the IT sector company,  PTC India, from the power sector and  and VST  Industries in the FMCG sector.

The FMCG sector major ITC Ltd is a prominent stock in the top 10 dividend yield picks. With a dividend yield of 3.6%, ITC also has rewarded its investors well with a good good dividend yield.

Power Grid Corporation of India, another power sector major also find place in Top 10 dividend yield stocks. The dividend yield for Power Grid Corporation of India stood at 3.4%.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions

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