Dividend Stocks: Coal India, ONGC, Tech M, ITC among top 10 picks by Religare Broking

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Coal India, 360 One Wam , Gujarat State Fertilizers & Chemicals Ltd, Gujarat Narmada Valley Fertilizers & Chemicals Limited, Oil and Natural Gas Corporation , Tech Mahindra, PTC India, ITC , Power Grid Corporation of India , Oil India are amongst top 10 dividend yield picks of Religare Stock Broking. The dividend yield is a financial ratio that shows how much a company pays out in dividends each year relative to its stock price. Dividend yield of 3-5% or more is considered to be good.

However it also depends on the market conditions. Dividend Yield is one of the important factors that is considered by investors while investing in dividend yield stocks. It is an indicator of returns that investors are earning on their shares.

Coal India with dividend yield of 5.6% tops the list of 10 dividend yield stocks by Religare. Coal India dividend per share stood at ₹24.7 and ₹17 during FY23 and FY22 respectively Also Read- Mahanagar Gas stock tumbles 16% to hit 6-week low after Citi cuts target price 360 One Wam, the asset and wealth management company is the second key dividend paying stock in Religare's list with dividend yield of 4.8%. A dividend of ₹55 and ₹34.50 per share was distributed by the company in FY22 and Fy23 respectively.

Chemical segment companies Gujarat State Fertilizers & Chemicals Ltd, Gujarat Narmada Valley Fertilizers & Chemicals with dividend yield of 4.6% take the third spot among the dividend yield stocks. While GSFC distributed dividend per share of ₹2.5 and ₹10 during FY22 and FY23 respectively., GNFC's dividend per share stood at ₹10 and ₹29.5 during FY22 and FY23 respectively. The oil and Gas producing upstream major Oil and Natural Gas Corporation (ONGC) is fifth in the list of 10 with dividend yield