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
KIOCL Limited is an India-based company. The Company is primarily engaged in the business of iron ore mining, beneficiation and production of high-quality Pellets. The Company has diversified into operation and maintenance (O&M) services and mineral exploration pertaining to its various core areas of expertise. Its products include iron ore pellet and pig iron castings. Its services are engaged in O and M Projects, which are followed by O&M of Beneficiation and Pellet Plant at Donimalai, O&M of Chrome Ore Beneficiation Plant (COB) at Kaliapani and Mineral Exploration Works. The Company’s pellets have been used in blast furnaces of steel mills in Australia, China, Japan, Taiwan, Turkey and a host of other countries. Its pellets have also been used in steel plants of Hungary, Yugoslavia, United States of America, West Germany, Poland, Czechoslovakia, Indonesia and in some of the direct reduction plants in India.
KIOC - KIOCL Ltd
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