Zicom Electronic Security looks pretty safe and secure today. The stock opened slightly higher but soon zoomed to an intra day high at Rs.181.30 and is currently up 8% at Rs.174 levels. Volumes are huge at 1.83 lakh shares changing hands today v/s two-week average of 19,000 shares.

The stock has zoomed up after RBI yesterday hiked the FII ceiling in the stock. The RBI stated that NRIs and POIs can now invest up to 24% of the paid up capital of Zicom Electronic under the Portfolio Investment Scheme (PIS). RBI stated that the company has passed resolutions at its Board of Directors' level and a special resolution by the shareholders, agreeing for enhancing the limit for the purchase of its equity shares and convertible debentures by NRIs/PIOs. RBI said that the purchases could be made through primary market and stock exchanges.

FII stake as at 18^th Feb was at 1.82% down from 2.09% at end of Dec’14.