8 Stocks To Buy Now For Hefty Dividends Up To 300% In Sept 2022

It is the time of the year, when there are book closures for dividends. Several stocks have their book closures in the month of Sept, 2022 for decent dividends. Here are 8 such stocks with hefty dividends for September.

8 Stocks for hefty dividends in Sept 2022

Company name	Dividend %	Ex Dividend date
Bharat Bijlee	300%	19-Sep-22
LIC Housing Finance	425%	19-Sep-22
Honda India PP	150%	16-Sep-22
Sarla Performance	200%	20-Sep-22
TV Today Network	60%	19-Sep-22
AGI Greenpan	250%	13-Sep-22
CARE Ratings	100%	13-Sep-22

Do not buy stocks merely for their dividends

While we have recommended the stocks above for their dividends, one must note that stock investment cannot be done only on the basis of dividends. Investors should look at various other parameters including promoter stake, promoter track record and other fundamentals of the stock before investing. As mentioned above, Nifty p/e multiples have now hit 20 times one year forward earnings, which means that the markets are not very cheap at this juncture. Therefore, any buying at these levels, leaves investors with a reasonable amount of risk. Also, global markets have been exceedingly volatile on the back of rising interest rates.

Markets now trade at fair value

After the nearly 10 per cent rebound in the markets, the Indian benchmark indices are trading at fair values.

Global markets too continued to ignore escalating China-Taiwan tensions on the back of healthy corporate earnings and Strong U.S. Service PMI data. Crude Oil prices edged lower, after OPEC+ producers agreed to increase production by small quantity i.e. 100,000 barrels per day in September.

"Volatility has increased in the domestic market in the last 3 days. However strong buying at lower levels have helped Nifty to sustain its positive closing for 6-7 consecutive days. This shows the underlying strength in the Indian markets despite increasing volatility as well as escalating geopolitical tensions. After the sharp run up in the last few days, Nifty now trades at 20x FY23 PE, which is above its 10-year average, thus offering limited upside in the near term. RBI's policy outcome on Friday would be the key event that the market would track. Going forward, it could be a tug of war between domestic and global factors which would determine the market direction," says Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd.