Key Dividend-Paying Stocks to Monitor in November 2023 for Investors

As November begins, investors are closely monitoring a selection of dividend-paying stocks poised to reward shareholders. Notable companies like Colgate-Palmolive (India) and Mazagon Dock Shipbuilders have announced interim or final dividends. According to BSE data, nine stocks with record and ex-dates in the first week of November could influence market trends in the coming days.

Shree Cements is offering a dividend of Rs 80, with both the record and ex-date set for 3rd November. Riyank Arora from Mehta Equities Ltd. suggests that "Shree Cement shows strength after retracement from ₹28,500 support. Sustaining above ₹29,000 could extend the rally toward ₹29,900-₹30,500. RSI positive near 60, indicating healthy momentum. Trend bullish; buy on dips."

Oracle Financial Services Software has declared a dividend of Rs 130, with the same record and ex-date as Shree Cements. Arora notes, "Stock consolidating after strong rally; holding above ₹8550 keeps trend intact. Breakout above ₹8750 could test ₹8900-₹9100. RSI near 60 suggests healthy trend continuation. Outlook: Positive; buy on breakout."

Colgate-Palmolive (India) will distribute a dividend of Rs 24, with both record and ex-dates on 3rd November. Arora comments, "Colgate forming a bullish structure above ₹2240 support. Sustained strength may push prices to ₹2320-₹2360. RSI positive at 62 indicates momentum. Trend: Bullish; buy on dips."

Supreme Industries is set to pay a dividend of Rs 11.00, also with record and ex-dates on 3rd November. Arora states, "Stock trending strong above all key averages. Next resistance at ₹3920; breakout may take it to ₹4000-₹4050. Support at ₹3780. RSI firm at 65 supports bullish momentum. Trend: Positive; maintain buy on dips."

DCM Shriram and Mazagon Dock Shipbuilders

DCM Shriram has announced a dividend of Rs 3.60, with both record and ex-dates on 3rd November. Arora observes, "Currently consolidating around ₹1320. Breakout above ₹1345 may fuel a rally to ₹1380-₹1410. Support at ₹1300. RSI improving with mild volume rise. Trend neutral to bullish; buy above ₹1345."

Mazagon Dock Shipbuilders will pay a dividend of Rs 6.00, with record and ex-dates on 4th November. Arora recommends, "Mazagon forming a higher base near ₹2720. Sustained trade above ₹2800 may lead to ₹2900-₹2950. RSI recovering from 50 zone. Trend remains bullish; buy near ₹2750 with stop loss ₹2700."

Sundram Fasteners and RailTel Corporation of India

Sundram Fasteners is distributing a dividend of Rs 3.75, with both record and ex-dates on 4th November. Arora comments, "Stock forming higher lows, indicating trend continuation. Holding above ₹955 could push toward ₹995-₹1020. RSI steady near 58, suggesting moderate strength. Immediate support at ₹950. Outlook: Positive bias; buy on dips for ₹1020-₹1040 targets."

RailTel Corporation of India has declared a dividend of Rs 1.00, with record and ex-dates also on 4th November. Arora notes, "Stock holding well near ₹365 support. Sustained trade above ₹380 can lead to ₹395-₹410. RSI showing recovery from lower levels. Trend neutral to positive; maintain buy on dips for ₹410 short-term target."

Happiest Minds Technologies

Happiest Minds Technologies will offer a dividend of Rs 2.75, with both record and ex-dates set for 4th November as well. Arora comments, "Stock recovering from oversold levels; sustaining above ₹530 could target ₹550-₹565. Support at ₹510. RSI turning up signals short-term reversal. Trend: Positive bias; buy above ₹530."

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