Buy Federal Bank on declines and worth keeping as portfolio stock: Avinnash Gorakssakar

In an interview with ET now, Avinnash Gorakssakar, Head of Research, Miintdirect.com, gives his views on various stocks and sectors. Excerpts:

ET Now: What is your view on Federal Bank?

Avinnash Gorakssakar: Federal Bank is definitely a bank to watch out, if one takes a medium to long-term view.

Numbers were more or less in line with expectation, but asset-quality levels were maintained pretty well in this quarter.

If one takes a medium to longer term view, it is one of those banks where it has a very large NRI base and where the cost of funds is relatively less.
So I would definitely be a buyer maybe on declines but definitely worth keeping as a portfolio stock.