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
Grand Foundry Limited is an India-based company, which is engaged in manufacturing of bright steel bars and wires. The Company offers various heat treatment processes and supplies commercial lots of heat-treated bars to specific standards in the international market in American, German standards. The Company’s products are utilized for various applications in the engineering industries, including petro chemical, oil and natural gas and automotive industries throughout the world. The Company supplies every grade of steel required by the engineering industry to customers spread out throughout India and countries, such as the United States, Japan, Singapore, Italy, Australia and Canada. The Company through its export trade development cell, offers sourcing of overseas markets for small Indian engineering and manufacturing companies. The Company also offers pickling and heat treatment lines.
GRND - Grand Foundry Ltd
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