Purification and Zakat (for long-term investing) calculations are in USD per share and based on AAOIFI methodology. AAOIFI requires purification every financial period (e.g. quarterly).
If you follow S&P Shariah’s Dividend-only purification, then remove the impure income % from the dividends you receive. No purification required for non-dividend paying stocks, according to S&P Shariah.
For Zakat, if you did not invest in a company from a long term perspective, then consider the shares as trading goods and give 2.5% of the total value if a year has passed on them.
Company Profile
Ashoka Metcast Limited is an India-based holding company. The Company is primarily engaged in the trading of steel and other trading activities. The Company is involved in trading and manufacturing of structural steel products, such as thermo-mechanically treated (TMT) bars, angles, channels and mild steel (MS) bars. Its steel products include a round bar, flat bar, and others. TMT bars are used for building homes, multistoried high rises, bridges, flyovers and other civil engineering structures. Angle bars are steel bars that are used as support for corners and outer rims that are used for various walls and surfaces. MS Bars are used for tensile stress of Reinforced cement concrete (RCC) slab beams and others in reinforced cement concrete work. Steel channels are used as supports and guide rails and offer various channel categories, including J channels, Hat channels, U channels and hemmed channels. The Company’s subsidiary is Rhetan TMT Limited.
ASKH - Ashoka Metcast Ltd
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