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
Neueon Towers Limited is an India-based company, which is engaged in manufacturing and is operating in various areas/ verticals/products related to towers and transmission, TSF and specialty structural steel manufacturing business. The Company operates through the Power and Telecom Tower segment. It offers end-to-end solutions for transmission towers, telecom towers and substation structures. It provides support on technological structures fabrication. It helps telecom service providers (TSPS) with start-to-finish project support services. It provides support on engineering, procurement and construction (EPC) projects, especially for transmission line projects. The Company undertakes transmission projects, that includes design, solutions and consulting services. It produces galvanized TMT and epoxy-coated TMT products as per the client specifications. The Company provides re-rolling facilities that help in tower fabrication as per customer specifications.
NEUE - Neueon Towers Ltd
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