New Delhi, Aug. 22 -- Retail investors' favourite renewable energy stock, Suzlon Energy, appears to be caught in a downward spiral, slipping over the last few trading sessions to levels not seen in the past three months.

The stock has already lost 5% in August, following declines of 9.3% in July and 5.3% in June, taking the cumulative fall to 18.25% in less than three months. It has also dropped 32% from its 52-week high.

The sell-off deepened in August, particularly after the company's June-quarter numbers missed analysts' estimates, while sentiment was further weakened by the announcement of the Group Chief Financial Officer's exit.

Analysts noted that the departure of Group CFO Himanshu Mody could be a short-term negative, given his...