Zomato Vs. Nona Lifestyle: Experts Weigh In On Insolvency Plea And Stock's Future

Zomato is facing potential insolvency proceedings as Nona Lifestyle Pvt Ltd has filed a petition with the National Company Law Tribunal (NCLT) seeking to restore an earlier insolvency plea under Section 9 of the Insolvency & Bankruptcy Code. Nona Lifestyle claims Zomato owes ₹1.64 crore, including interest, due to delayed payments and incomplete delivery, a claim Zomato's counsel disputes, citing a pre-existing dispute. Despite this, Zomato's stock has seen a rise in today's trade. On Business Today TV's "Market Today," experts analyzed the situation. Arpit Beriwal, Analyst - Derivatives, Motilal Oswal Financial Services, noted Zomato's relative outperformance during recent market corrections and identified a major support zone around ₹197-₹198. He observed a bullish reversal candle and a potential positive crossover, suggesting Zomato is a preferred bet at current levels, with a target of ₹215-₹220. Prashanth Tapse, Research Analyst, Mehta Equities, viewed the news as a potential buying opportunity for long-term investors, emphasizing the food delivery industry's rapid growth. He recommended buying Zomato and Swiggy, foreseeing strong sector growth over the next two to three years. Both experts suggest that while short-term volatility may persist, Zomato remains a promising long-term investment.