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
Tata Metaliks Limited is an India-based company, which is engaged in the manufacture and sale of pig iron (PI) and ductile iron pipes (DIP). The Company has its manufacturing plant at Kharagpur in the state of West Bengal. The PI is an intermediate product of a commodity nature, used in foundries for the production of iron castings. Tata eFee, the Company’s branded PI, with USPs of inherent shape and size reduces energy consumption in foundries. Its PI is suitable for various kinds of castings in industries such as automotive, agriculture, engineering and industrial, power, ductile iron pipes and fittings, sanitary and decorative castings, railways and aluminum smelters. The DIP is an end product in the value chain, used for the transmission of potable water, wastewater and water for irrigation purposes. The Company’s ductile iron pipes are widely used in various applications, such as potable water supply, irrigation, sewerage and industrial usage.
TMET - Tata Metaliks Ltd
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