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Navaratna stocks in India refer to shares of public sector enterprises that have been awarded Navaratna status by the government. This prestigious designation is granted to select state-owned companies based on their financial performance and operational excellence.

These companies have greater power in making investment decisions and managing their operations. Navaratna companies are among the largest and most profitable enterprises in India, playing an important role in the country’s economic development.

Dividend yield is a crucial financial ratio used the investors which shows the annual dividend income received from a stock as a percentage of the stock’s current market price.

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Here are a few Navaratna stocks that give a dividend yield of up to 3.44 percent:

Power Grid Corporation of India  Ltd

With a market capitalization of Rs 2,99,293.43 crores,  the shares of  this company closed at Rs 321.80 per share on Friday’s trading session up by 0.12 percent. 

Taking a look into the financials of Power Grid Corporation of India  On a year-on-year basis, the revenue from operations increased by 0.57 percent from Rs. 45,581 crores in FY22-23 to Rs 45,843 crores in FY23-24. Also, the net profits of the firm increased by 1.01 percent from Rs. 15,417 crores in FY22-23 to Rs 15,573 crores in FY23-24.

As of March 2024,  the dividend yield of the company stood at 3.44 percent. The shares of this company generated a return of 35.43 percent over the past 6 months and 73.91 percent over the past one year.

Incorporated in 1989, Power Grid Corporation of  India is engaged in the business of bulk power transmissions across various Indian states. The company is headquartered in Gurgaon.

Rites Ltd

With a market capitalization of Rs  16,936 crores,  the shares of  this company closed at Rs 705.30 per share on Friday’s trading session up by 3.74 percent. 

Taking a look into the financials of  Rites Ltd   On a year-on-year basis, the revenue from operations decreased by 6.65 percent from Rs. 2,628 crores in FY22-23 to Rs 2,453 crores in FY23-24. Also, the net profits of the firm decreased by 13.31 percent from Rs. 571 crores in FY22-23 to Rs 495 crores in FY23-24.

As of March 2024,  the dividend yield of the company stood at 2.91 percent. The shares of this company generated a return of 36.64 percent over the past 6 months and 86.20 percent over the past year.

Rites Ltd is an engineering and consultancy organization that provides a range of services from concept to commissioning in all areas of transport infrastructure and related technologies.

NATIONAL ALUMINIUM CO.LTD (NALCO)

With a market capitalization of Rs 35,244.96 crores,  the shares of  this company closed at Rs 191.90 per share on Friday’s trading session up by around 3  percent. 

Taking a look into the financials of NALCO, On a year-on-year basis, the revenue from operations decreased by 7 percent from Rs. 14,255 crores in FY22-23 to Rs 13,149 crores in FY23-24. Also, the net profits of the firm decreased by 13.31 percent from Rs. 571 crores in FY22-23 to Rs 495 crores in FY23-24.

As of March 2024,  the dividend yield of the company stood at 2.34 percent. The shares of this company generated a return of 73.44 percent over the past 6 months and a multi-bagger return of 126.42 percent over the past year.

Incorporated in 1981, National Aluminium Company Limited (NALCO) manufactures and sells Alumina and Aluminium. The company is headquartered in Bhubaneswar.

Written By Zahal

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