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
Tube Investments of India Limited is an engineering company, which is engaged in manufacturing precision steel tubes and strips, automotive, industrial chains, car door frames and bicycles. Its divisions include Mobility, Engineering, Metal-Formed Products, and Others. The Mobility segment comprises standard bi-cycles, special bi-cycles, such as alloy bikes and specialty performance bikes, fitness equipment and three-wheeler electric vehicles. The Engineering segment comprises of cold rolled steel strips and precision steel tubes, such as cold drawn welded tubes and electric resistant welded tubes. The Metal Formed Products segment comprises of automotive chains fine blanked products, stamped products, roll-formed car doorframes and cold rolled formed sections for railway wagons and passenger coaches. The Other product segment includes industrial chains and other new businesses. It also owns X2Fuels and Energy Private Ltd, which is engaged in combustion research and development.
TBEI - Tube Investments of India Ltd
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