The ongoing geopolitical situation has put immense pressure on risk assets, with Indian equity markets seeing sharp drawdowns since the dawn of the Iran War. This has shaken the certainty of capital gains, with investors now pivoting towards a classic 'subscription' to corporate profits, in the form of high dividend yields.
When business growth slows, the market's appetite for risk vanishes, and that is where a demand for stable income becomes the need of the hour.
This is a dynamic that can be observed in the market right now, and this shift has put defensive sectors such as utilities, FMCG and PSUs firmly back in focus, alongside Infrastructure Trusts (InvITs) and REITs, which have delivered yields between 8% and 13% over the last year.
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For those looking to park cash in a storm, these are the stocks that have offered the highest yields over the last 12 months (minimum market capitalisation of Rs 2,000 crore):
What To Watch Next
While the yields are attractive, several stock-specific triggers could shift the narrative in the near future.
REC: A board meeting is scheduled for March 25 to discuss a borrowing plan, which is expected to see an uptick.
PTC: The market is awaiting the implementation of "Market Coupling" to drive future performance.
Akzo Nobel: Following an acquisition by JSW Paints, analysts expect accelerated distribution growth.
Uniparts India: Demand for the construction equipment business is projected to strengthen significantly starting in the second half of 2026.
Gujarat Pipavav Port: Watch for yield pressure as the company navigates a massive Rs 17,000 crore capex expansion plan.
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