Adani Energy Solutions surges 63% in 3 months fueled by seasonality, outlook. But why brokerages are cautious?

With the onset of summer, shares of Adani Energy Solutions have attracted strong investor interest, rallying over 63% in just three months. This makes it the second-best performer within the Adani Group, trailing only its power sector peer, Adani Power, which has delivered slightly higher returns of around 67% over the same period.