Jai Corp shares hit rock bottom on Thursday, crashing to a 52-week low of ₹247.90 after slamming into the 20% lower circuit. Heavy trading action accompanied this sharp drop, marking the stock’s third straight losing session. The trigger? A big announcement from Urban Infrastructure Holdings Pvt.., where Jai Corp holds a 32% stake. UIHPL is pushing for a capital reduction, a move that’s now up for shareholder approval. If the plan gets the green light from shareholders, the NCLT, and regulators, Jai Corp could pocket ₹364 crore. UIHPL plans to slice away 99.76% of its share capital, including equity shares and CCPS, handing ₹3,746.87 crore to its shareholders. This shake-up comes on the heels of another big transaction. Dronagiri Infrastructure Private Limited (DIPL), a UIHPL subsidiary, offloaded a 74% stake in Navi Mumbai IIA Private Limited to Reliance Industries for ₹1,628.03 crore last month. With CIDCO holding the remaining 26%, DIPL now finds itself cash-heavy, prompting its own capital reduction proposal. Jai Corp’s rough patch isn’t new. The stock has been on a downward spiral, losing over 36% in 2024 and sitting 43% below its July high of ₹438.