High Dividend Yielding Stocks: INDIA OIL CORPORATION

India's largest oil refining and marketing company offers a dividend yield of 4.1 per cent dividend and is available at eight times its 2012-13 estimated earnings. Besides valuations, annual earnings growth over the next two years at 14 per cent is also par for the course. The company will be the key beneficiary of a decontrol of retail fuel prices, particularly diesel. Besides, its expansion of the Panipat refinery and the setting up of an integrated refinery or petrochem complex at Paradip would drive future growth. Moreover, its constant dividend payment history, good returns on equity at 14.2 per cent and less leverage makes it a good pick.