Coal India, ONGC, Oil India, are among the top PSU stock picks by Religare paying high dividend yields

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Coal India , ONGC , OIL India, Power Grid Corporation of India , Petronet LNG, Gujarat State Fertilizers and Chemicals , PTC India , Rites , Gujarat Narmada Valley Fertilizers and Chemicals , Chennai Petroleum Corporation are the top PSU stock picks by Religare Broking paying high dividend yields. Dividend yield is one of the main factors to consider when investing in dividend paying stocks. It is an indicator of the returns investors are earning on their shares.

Religare Broking has filtered the list of top dividend paying companies based on their fundamental strength and selected 10 stocks. Investors interested in dividend income can consider these stocks for investment. Coal India tops the Religare list with dividend yield of 6.4% based on dividend per share of ₹24.3 in FY23 and ₹17 in FY22.

Coal India having strong fundamentals led by strong production and sales volumes outlook also remains amongst picks of other analysts and a strong dividend yield makes it more attractive. Also Read- Penny stock: Gujarat Toolroom share price skyrockets, gives multibagger return in just 2 years Coal India is followed by Oil and Natural Gas Corporation and Oil India as the top PSU stocks paying high dividend Yields. The upstream oil and gas producers, ONGC and Oil India offer dividend yield of 5.5% and 5.4% respectively making them attractive investment bets.

The expected rise in their production volumes and improved net realisation outlook are the other key reasons keeping other analysts positive on the stocks. Power Grid Corporation of India with dividend yield of 4.5% is another key dividend yield pick. The strong power demand in the country is also keeping Power Grid stock into focus.