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
Modi Rubber Limited is an India-based company, which consists of manufacturing automobile tires, tubes and flaps, manufacture and sale of resin-coated sand, as well as operates salons. The Company operates in three segment, namely real estate services, travel services, and others. Its operations comprise the sale of rooms, foods and beverages and allied services relating to guest house operations. The Company’s plants are located in Modipuram, Meerut, and Modinagar. The Company’s wholly owned subsidiaries include Spin Investment India Limited, Superior Investment (India) Limited, and Uniglobe Mod Travels Private Limited.
MODI - Modi Rubber Ltd
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