Top 5 high dividend yield PSU stocks growing at amazing speed

livemint.com:

railway sectors. With their eye on the big game and general elections just around the corner, the Modi government is leaving no stones unturned and gearing up PSU companies. Just take the event that transpired earlier this month on 10 August 2023 in the parliament.

Everyone paid attention when Prime Minister Narendra Modi gave investment tips and asked stock market investors to 'bet on PSU stocks’. When it comes to PSU, the common norm is that they pay more steady and consistent dividends than other companies. This is because these companies are interrelated with core sectors of the economy, such as power generation and transmission, mining, and railways.

While dividend paying capacity was never a concern, growth remained a challenge. But it seems select PSU companies have caught up with growth as well, while also maintaining high dividend yields. Let’s look at the companies that make the cut.

Defence stocks in India have attracted investor’s interest for some time now. With the world increasing its defence spending, the government of India is boosting the defence sector to strengthen it. Its emphasis on indigenisation and make in India initiative has fuelled the growth potential of defence stocks.

One company that has dominated the defence space is Hindustan Aeronautics Limited (HAL). The company is a dominant supplier of aircraft, helicopters, engines, and avionics and the main provider of maintenance, repair, and overhaul services to the Indian Airforce, Indian Army, ISRO, Indian Navy, and Indian Coast Guard, among others. It also engages with the Indian Space Research Organisation (ISRO) to contribute to India’s space programs.