Among the largecaps, Bajaj Auto paid a dividend of Rs 140 per share while TCS gave Rs 113 as dividend to the investors in the last 12 months.
Hero MotoCorp, Tata Consultancy Services (TCS), Bajaj Auto, Sanofi India, Oracle Financial Services Software (OFSS), Goodyear India and Polyplex Corporation paid a total dividend of up to Rs 570 in the last one year, according to a report from Axis Securities. These companies paid the highest amount per share as dividends, despite other companies having higher dividend yields compared to these stocks. Among the large-caps, Bajaj Auto paid a dividend of Rs 140 per share while TCS gave Rs 113 as a dividend to the investors in the last 12 months. Both blue chips had a dividend yield of only 3 per cent. Hero MotoCorp, which paid a dividend of Rs 100 in the last one year, had a dividend yield of 4 per cent. The demand environment for IT services in India weakened in June, while the signs of recovery over the next six-nine months remain low, analysts at JPMorgan said. The global brokerage has cut FY24-25E revenues and earnings by 1 per cent for TCS and remains 'underweight' with an unchanged target price of Rs 2,700 apiece. SMIFS Institutional Research had suggested 'accumulating' Hero MotoCorp with a target price of Rs 3,200 on the back of a new product launch. On the other hand, Geojit Financial Services gave a 'hold' rating on Bajaj Auto with a target price of Rs 4,870 in May 2023. None of the PSU stocks delivered a dividend of more than Rs 100 in the last one year. Coal India was the sole PSU stock with a dividend yield of 10 per cent or more. It also topped in terms of the amount paid as a dividend with Rs 23.25. Among the large-caps, Vedanta and Hindustan Zinc had a dividend yield of 26 per cent and 24 per cent, respectively. Antique Stock Broking has given Coal India a 'buy' rating with a target price of Rs 280, while global brokerage firm JP Morgan recently downgraded Vedanta to 'neutral' from 'overweight' and trimmed its target price to Rs 280 per share from Rs 350 earlier. Two midcap stocks have topped among the dividend-paying stocks in absolute terms as Sanofi India paid Rs 570 and Oracle Financial Services Software (OFSS) paid Rs 225 as a dividend in the last one year. Their dividend yield stood at 8 per cent and 6 per cent, respectively as none of the midcap stocks yielded more than 10 per cent as dividend. Among the small-cap counters, Polyplex paid Rs 106 and GoodYear paid Rs 100 as dividends in the last one year. Both stocks had a dividend yield of 8 per cent. However, TV Today Network topped the entire list in terms of yield with 35 per cent. Bhansali Engineering Polymers and RSWM had a dividend yield of 14 per cent and 12 per cent, respectively. ShareKhan maintained its 'hold' rating on Polyplex Corporation with a revised target price of Rs 1,250 as the earnings outlook is muted, while the brokerage retained a 'buy' on Sanofi India with a revised target price of Rs 7,500 citing its attractive valuations.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Business Today)