At the current market price, this translates to an attractive dividend yield of 4.52 per cent. Additionally, the stock boasts an impressive Return on Capital Employed (ROCE) of 60.8 per cent, reflecting its efficient utilization of invested capital.

The stock has an ROE of 21.95 per cent and a ROCE of 27.78 per cent with multibagger returns of 140.94 per cent.

This combination of growth potential and consistent dividends make high dividend yield stocks a winning choice for investors seeking lower volatility in the equity market. Such companies are typically more established and have a history of stable earnings and cash flows, making them a safer investment option.

The company has consistently rewarded its shareholders with dividends since 2003. The stock has jumped more than 10 per cent in the last week along with robust volumes.

We will be talking about dividend champion stock, which has not only given regular dividends but also, offered multi-bagger gains in the last three years as it generated nearly 4x returns. What’s icing on the cake is that the stock is trading in single-digit PE! 

PSU banks are an attractive play on the growing Indian economy as these banks have strengthened their balance sheet by fully providing for stressed accounts. The focus on improving underwriting practices is reflected in controlled slippages.

You might be wondering why this stock requires special attention in the near future! Don’t worry, we’ll discuss the same in this article itself!