4 Midcap Dividend Stocks With Yield Above 1.5 Per Cent to Watch for Future Multibagger Potential: Vedanta, Godrej Consumer, Ashok Leyland and NHPC
- October 22, 2026
- Posted by: Manan Bisht
- Category: Best Stocks
Vedanta Rs 236.85. Godrej Consumer Rs 859. Ashok Leyland Rs 146.74. NHPC Rs 72.65. Market caps from Rs 72,907 crore to Rs 96,235 crore. Data as of 21 Oct 2026.
Quick Answer
Vedanta, Godrej Consumer, Ashok Leyland and NHPC are the 4 picks in this dividend stocks with yield above 1.5 per cent watchlist, with market caps between Rs 72,907 crore and Rs 96,235 crore. Vedanta stands out for the strongest latest-quarter profit growth at 77.65%, while Godrej Consumer offers 7.90% revenue growth in FY26. PE ratios run from 3.37 to 45.75, so compare each one with its industry PE before investing. All figures are as of 21 October 2026.
Dividend stocks with yield above 1.5 per cent to watch for multibagger potential start with a simple filter: size, a clean financial record and earnings that keep growing. Vedanta, Godrej Consumer, Ashok Leyland and NHPC meet that test, with market caps from Rs 72,907 crore to Rs 96,235 crore and Vedanta offering the strongest latest-quarter profit growth at 77.65%. Each of these companies has a market capitalisation between Rs 30,000 crore and Rs 1,00,000 crore and a dividend yield of at least 1.5 per cent, and net profit rose in FY26 and in the latest quarter.
This list covers companies with a market capitalisation between Rs 30,000 crore and Rs 1,00,000 crore and a dividend yield of at least 1.5 per cent, rising profit in FY26 and the latest quarter, and complete, verifiable financials, ranked by market capitalisation. Each company has a market cap between Rs 30,000 crore and Rs 1 lakh crore. Investors screening dividend stocks with yield above 1.5 per cent usually begin with size and balance sheet strength, and this list follows the same logic. All figures are as of 21 October 2026 and are drawn from NSE and BSE data and company filings.
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What Are Dividend Stocks With Yield Above 1.5 Per Cent and Why Do They Attract Multibagger Interest?
Dividend stocks with yield above 1.5 per cent are shares of mid-sized companies that return a steady share of profit to investors as dividend. The four here cover metals, household products, commercial vehicles and hydropower.
A dividend backed by rising profit is more reliable than one paid from a shrinking base. For dividend stocks with yield above 1.5 per cent, latest quarter profit also rose. Investors researching dividend stocks with yield above 1.5 per cent get a fuller picture by reading growth and valuation together. The table below lines up dividend stocks with yield above 1.5 per cent on size, growth and valuation, using complete FY26 and latest quarter numbers. Past performance does not guarantee future returns, so use dividend stocks with yield above 1.5 per cent as a starting point for your own research.
Dividend Stocks With Yield Above 1.5 Per Cent at a Glance: Price, Market Cap, PE, ROE and Price to Book
Prices are closing prices as of 21 October 2026. Vedanta has the lowest PE of the group at 3.37, while Ashok Leyland posts the highest return on equity at 24.37%.
| Stock | CMP (Rs) | Market Cap (Rs Cr) | PE | Industry PE | ROE | Price to Book | 52-Week Range (Rs) |
|---|---|---|---|---|---|---|---|
| Vedanta | 236.85 | 96,235 | 3.37 | 12.27 | 9.55% | 1.94 | 236.85 to 795.00 |
| Godrej Consumer Products | 859 | 87,544 | 45.75 | 34.40 | 14.71% | 6.92 | 832.60 to 1,273.90 |
| Ashok Leyland | 146.74 | 86,933 | 23.31 | 23.62 | 24.37% | 6.10 | 134.21 to 215.42 |
| NHPC | 72.65 | 72,907 | 17.08 | 22.18 | 9.09% | 1.76 | 70.25 to 87.81 |
Vedanta: Revenue Up 23.92% in FY26
Vedanta is a diversified natural resources company with operations in zinc, aluminium, oil and gas, copper and iron ore. It reported FY26 revenue of Rs 79,987 crore, up 23.92% year on year, and net profit of Rs 12,480 crore, up 34.54%. Operating margin was 31.43% in FY26.
In the June 2026 quarter, revenue rose 53.37% to Rs 24,747 crore and net profit grew 77.65% to Rs 7,918 crore. Foreign investors raised their holding from 10.60% in June 2025 to 15.77% in June 2026. The stock trades at a PE of 3.37 against an industry PE of 12.27, below the sector average.
Godrej Consumer: Profit Compounding at 1.08% a Year
Godrej Consumer Products sells household insecticides, soaps, hair colour and personal care brands in India, Africa and Asia. It reported FY26 revenue of Rs 15,444.07 crore, up 7.90% year on year, and net profit of Rs 1,861.47 crore, up 0.50%. Revenue has compounded at 5.71% a year since FY22. Operating margin was 19.45% in FY26. The debt-to-equity ratio is 0.35.
The stock trades at a PE of 45.75 against an industry PE of 34.40, with a return on equity of 14.71%. The dividend yield is 2.34%. In the June 2026 quarter, revenue rose 14.17% to Rs 4,277.35 crore and net profit grew 11.51% to Rs 504.52 crore. Domestic institutions raised their holding from 12.40% in June 2025 to 19.59% in June 2026.
Ashok Leyland: Return on Equity of 24.37%
Ashok Leyland makes trucks, buses and defence vehicles and is among the largest commercial vehicle makers in India. It reported FY26 revenue of Rs 56,946.90 crore, up 16.47% year on year, and net profit of Rs 3,720.98 crore, up 10.00%. Revenue has compounded at 21.28% a year since FY22. Operating margin was 19.17% in FY26.
In the June 2026 quarter, revenue rose 12.29% to Rs 13,258.24 crore and net profit grew 1.53% to Rs 667.77 crore. The share price has gained 106.37% over five years. Domestic institutions raised their holding from 13.61% in July 2025 to 15.76% in June 2026. The stock trades at a PE of 23.31 against an industry PE of 23.62, below the sector average, with a return on equity of 24.37%. The dividend yield is 2.36%.
NHPC: Five-Year Gain of 104.08%
NHPC is a government-owned hydropower company that is also adding solar and wind capacity. It reported FY26 revenue of Rs 12,686.09 crore, up 9.23% year on year, and net profit of Rs 3,237.10 crore, up 3.28%. Revenue has compounded at 5.84% a year since FY22. Operating margin was 62.61% in FY26.
The stock trades at a PE of 17.08 against an industry PE of 22.18, below the sector average. The dividend yield is 2.22%. In the June 2026 quarter, revenue rose 15.02% to Rs 3,959.72 crore and net profit grew 4.15% to Rs 1,178.09 crore. The share price has gained 104.08% over five years. Domestic institutions raised their holding from 10.55% in September 2025 to 14.27% in September 2026.
Dividend Stocks With Yield Above 1.5 Per Cent: Financial Comparison on Growth and Margins
The table compares scale and growth across these dividend stocks with yield above 1.5 per cent. Latest quarter means the most recent reported quarter for each company, and only metrics that are positive for every company are shown.
| Stock | Revenue (Rs Cr) | Net Profit (Rs Cr) | Revenue Growth (YoY) | Latest Quarter Revenue Growth | Net Profit Growth (YoY) | Operating Margin (Latest Quarter) |
|---|---|---|---|---|---|---|
| Vedanta | 79,987 | 12,480 | 23.92% | 53.37% | 34.54% | 49.74% |
| Godrej Consumer | 15,444.07 | 1,861.47 | 7.90% | 14.17% | 0.50% | 19.89% |
| Ashok Leyland | 56,946.90 | 3,720.98 | 16.47% | 12.29% | 10.00% | 20.01% |
| NHPC | 12,686.09 | 3,237.10 | 9.23% | 15.02% | 3.28% | 72.45% |
Check the Univest Screener for live data on these dividend stocks with yield above 1.5 per cent
Institutional Holding in Vedanta, Godrej Consumer, Ashok Leyland and NHPC
Institutional holding shows who is backing these dividend stocks with yield above 1.5 per cent alongside the promoter. The table uses the latest reported quarter for each. Ashok Leyland has the deepest institutional backing, with FII and DII together holding 36.44% as of June 2026. Domestic institutions increased their holding over the past year in Godrej Consumer (from 12.40% to 19.59%), Ashok Leyland (from 13.61% to 15.76%) and NHPC (from 10.55% to 14.27%).
| Stock | Promoter | FII | DII | Public | Quarter |
|---|---|---|---|---|---|
| Vedanta | 54.72% | 15.77% | 10.83% | 18.67% | June 2026 |
| Godrej Consumer | 53.05% | 12.33% | 19.59% | 15.03% | June 2026 |
| Ashok Leyland | 51.51% | 20.68% | 15.76% | 12.05% | June 2026 |
| NHPC | 61.39% | 13.17% | 14.27% | 11.17% | September 2026 |
Risks to Weigh in Dividend Stocks With Yield Above 1.5 Per Cent
Being careful with dividend stocks with yield above 1.5 per cent means looking at what can slow the story as well as what can speed it up. Four points matter most:
- Past growth may not repeat.
- Share prices can move sharply in either direction.
- Valuation: Godrej Consumer trades at a PE of 45.75 against an industry PE of 34.40, so earnings need to keep growing to support the price.
- Concentration: Holding all 4 names puts the allocation in one sector, so size each position to match your risk appetite.
How to Choose Between Dividend Stocks With Yield Above 1.5 Per Cent
Picking from dividend stocks with yield above 1.5 per cent comes down to four checks, applied in order.
- Check balance sheet strength first, and prefer a debt-to-equity ratio below 1 for non-financial companies.
- Compare each PE with the industry PE (12.27 to 34.40) and ask whether the growth rate justifies any gap.
- Track net profit growth, the operating margin and the return on equity in every quarterly result.
- Stagger entries across quarters and review institutional holding every reporting season.
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Conclusion
Among dividend stocks with yield above 1.5 per cent, Vedanta stands out for the strongest latest-quarter profit growth at 77.65%, Godrej Consumer for 7.90% revenue growth in FY26, Ashok Leyland for the highest return on equity at 24.37% and NHPC for 9.23% revenue growth in FY26. Which one suits a portfolio depends on how much valuation risk it can carry, so staggering entries and reviewing each quarterly result is a sound habit. Investors comparing dividend stocks with yield above 1.5 per cent should rank them on growth, financial strength and the price paid, and anyone who wants personalised guidance can consult a SEBI-registered advisor before acting.
Disclaimer: Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).
Frequently Asked Questions on Dividend Stocks With Yield Above 1.5 Per Cent to Watch
Which are the best dividend stocks with yield above 1.5 per cent to watch for multibagger potential?
Ans. Vedanta, Godrej Consumer, Ashok Leyland and NHPC are the 4 names this list highlights, with market caps of Rs 96,235 crore, Rs 87,544 crore, Rs 86,933 crore and Rs 72,907 crore respectively. Vedanta is notable for the strongest latest-quarter profit growth at 77.65%. Godrej Consumer stands out for 7.90% revenue growth in FY26. Ashok Leyland offers the highest return on equity at 24.37%. NHPC brings 9.23% revenue growth in FY26. These are watchlist names for dividend stocks with yield above 1.5 per cent, not recommendations, so match each one to your own risk profile and time horizon.
Is Ashok Leyland a good stock for long-term investors?
Ans. Ashok Leyland has a return on equity of 24.37%, a PE of 23.31 against an industry PE of 23.62 and a market cap of Rs 86,933 crore. FY26 revenue rose 16.47%, and June 2026 quarter net profit grew 1.53%. Long-term returns in dividend stocks with yield above 1.5 per cent depend on earnings growth and the price paid at entry, so staggering purchases and consulting a SEBI-registered advisor is sensible.
Can Godrej Consumer become a multibagger from here?
Ans. Godrej Consumer has a market cap of Rs 87,544 crore. A multibagger outcome in dividend stocks with yield above 1.5 per cent requires earnings to keep growing faster than the market for several years. FY26 revenue rose 7.90%, and June 2026 quarter net profit grew 11.51%. At a PE of 45.75 against an industry PE of 34.40, valuation should be checked against that growth before investing.
What is the market cap of Vedanta, Godrej Consumer, Ashok Leyland and NHPC?
Ans. As of 21 October 2026, Vedanta has a market cap of Rs 96,235 crore, Godrej Consumer has a market cap of Rs 87,544 crore, Ashok Leyland has a market cap of Rs 86,933 crore and NHPC has a market cap of Rs 72,907 crore. All of them qualify as midcaps. Market cap changes daily with the share price, so check the latest figure on the Univest Screener or on NSE before taking a decision on dividend stocks with yield above 1.5 per cent.
What are the risks of investing in dividend stocks with yield above 1.5 per cent?
Ans. The main risks are market swings, slower growth than expected and valuations that already reflect good news. Companies with strong balance sheets and steady earnings handle these better. Godrej Consumer trades at a PE of 45.75 against an industry PE of 34.40, so earnings growth needs to hold up.
Why is Godrej Consumer trading at a PE of 45.75?
Ans. Godrej Consumer’s PE of 45.75 compares with an industry PE of 34.40. The market is paying a premium for latest-quarter profit growth of 11.51%, which also means the stock is more sensitive if growth slows. Investors in dividend stocks with yield above 1.5 per cent who are comfortable with higher valuation risk may prefer to stagger purchases instead of investing in one go.
How much do institutions hold in Vedanta, Godrej Consumer, Ashok Leyland and NHPC?
Ans. As of the latest reported quarter, FII and DII together hold 26.60% of Vedanta (15.77% and 10.83%), 31.92% of Godrej Consumer (12.33% and 19.59%), 36.44% of Ashok Leyland (20.68% and 15.76%) and 27.44% of NHPC (13.17% and 14.27%). Rising institutional holding is a useful signal in dividend stocks with yield above 1.5 per cent, though it should be read with earnings trends rather than on its own.
