As the proposed merger with IDFC has been called off, the related uncertainty seems to be over. We expect STFC's operating environment would improve further in coming quarters led by government's efforts to revive growth in infrastructure space and strong uptrend in rural economy. Further, the Management has taken adequate remedial measures to address some structural overhang i.e. moving to 90-days NPA recognition and implementation of scrappage policy. As overhang of demonetisation is behind, we expect gradual improvement in performance over next few quarters. Thus, we reiterate our BUY recommendation on the...