4 Stocks With Dividend Yields From 8% To Near 11%, Should You Buy?

Markets have been trading in a range, though volatility has reduced substantially since the Union Budget 2023-24. Here are a few stocks that investors could buy for good dividend yields from 7% to near 8% provided consistency is maintained on dividends.

Stocks with good dividend yields

Name of stock	Current market price	Dividend yield
Coal India	211	8.06%
REC	117.25	11%
HUDCO	49	7.46%
NALCO	76.75	8.46%

It's important to note for dividend stocks that unless the dividends have been consistent over the years, it may not be advisable to buy the stocks for dividend. Also, dividends are taxable unlike a few years ago, when dividend income was tax free. Most of the government owned companies have a good track record of declaring good dividends in India. In the past we have seen dividends being altered significantly in line with profitability. In the above all the four stocks have a good track record of paying consistent dividends. We have no recommendation on these stocks for buy, sell or hold.

Nifty loses 133 points over the week

Meanwhile, it was not a good week for the stock markets in India. According to Kaizad Hozdar - Investment Advisor, TrustPlutus Wealth, the week started on a sombre note given the stronger than expected jobs data in the US market. "It led to worries that the US Fed could see room for more hikes in the coming months. The overall cautious mood spilled over to Tuesday too as the market participants waited on the side-lines ahead of the RBI's monetary policy announcement due on Wednesday. Thus overall, the Nifty lost 133 points over the first two trading sessions of the week. On Wednesday, post the RBI policy meet we saw a brief relief rally of 150 points on the Nifty considering the fact that the outcome of the RBI meet was on expected lines. Overall, the market has remained sideways week on week. The market continues to be preoccupied with the ongoing results of individual companies as we are now in the thick of the Q3 FY23 results season," he stated.

Disclaimer

The above article is for information purposes only. It only highlights the stocks that are good on dividend yields and should no way be construed as a "buy" call. The author and Greynium Information Technologies Pvt Ltd should not be held responsible for losses based on the above article. Investors should seek professional advise before investing.