Small-cap stock GEE Ltd, a manufacturer of welding consumables, has emerged as a conviction pick for ICICI Direct, which has initiated coverage on the stock with a Buy rating and a target price of ₹170. The brokerage's target implies an upside of 37% from the current market price of ₹124, over a 12-month period.
In its recent research report, ICICI Direct said the company was positioned for an earnings recovery driven by capacity expansion, improving utilisation, specialised welding products and opportunities in nuclear power and defence shipbuilding. The brokerage also expects a sharp improvement in profitability over FY26-FY28, supported by operating leverage and a gradual shift towards higher-value products.
“GEE is well positioned to deliver a strong earnings recovery, supported by the expansion of installed capacity from 59,075 MTPA to 71,339 MTPA and improving utilisation of its existing manufacturing facilities,” ICICI Direct said in its research report.
In today's trading session, the stock rose 3.5% to ₹126.65 apiece on the BSE. It had touched a 52-week high of ₹143.05 in September 2026 and a 52-week low of ₹53.61 in March 2026.
The small-cap stock has gained 8% over the past week and three months, surged 86% in five months, and advanced 38% over the past year.