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
ITI Limited is an India-based company, which is engaged in the manufacturing, trading and servicing of telecommunication equipment and rendering other associated/ancillary services. It manufactures telecom equipment, including electronic switching exchanges, transmission equipment, microelectronic and telephone instruments. It manufactures electronic products, including Digital Mobile Radio systems, smart energy meters, mini personal computers, Smaash Laptop, three-dimensional printing, bank automation products and others. Its traded products include Optical transport network products, managed leased line network products, signaling point network products, IP/MPLS routers and switches, network management system solutions and others. The Company has six manufacturing facilities across India in Bengaluru (Karnataka), Naini (Uttar Pradesh), Rae Bareli (Uttar Pradesh), Mankapur (Uttar Pradesh), Palakkad (Kerala) and Srinagar (Jammu and Kashmir) with a network system unit at Bengaluru.
ITEL - ITI Ltd
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