Retail participation is quite low in the markets because of the recent crash and as Jai is a long term stock so things will take its own time and as most are still not aware of true potential of JaiCorpso the slugish reponse, If you see the trading pattern and delivery volumes, it is suggesting slow accumulation is going on.
I see no basis of it falling much. If a conservative Bank like SBI can buy 3.8 Lacs shares at a level of 1036 and that too for a lockin of one year till Nov 08, one has to rethink .
With Rewas port , India's biggest port coming up, coming with an IPO this year or early next year, compare with Mundra which commands a Mcap of about 50Kcr, Rewas could easily be valued at 75K and with Jai having 10% stake that gives about 7K to Jai which is almost half of its Mcap as of now.
And this is only one part, add valuation of its stake in MumbaiSEZ, NaviMumbai SEZ, Reality projects, UIOF etc. the uninformed can hardly think about its true worth. Yes Jai is available cheap so are maybe 1000 others after the crash, operators/retail/biggies can buy only so much and they are doing, they are playing on bad sentiments of the markets and snatching shares from small investors and if guys like you are selling, I think they are succeeding.