'Melody' buzz keeps fuelling the wrong Parle on D-Street as stock jumps 5% again

Key points

• Shares of Parle Industries continued their rally for a second straight session on Thursday, hitting the 5% upper circuit amid heightened investor interest following the viral “Melody” moment involving Prime Minister Narendra Modi and Italian Prime Minister Giorgia Meloni.
• Parle Industries Ltd shares rose 4.95% to Rs 5.51 apiece as of 10:03 am on the Bombay Stock Exchange (BSE).
• The stock had also hit its upper circuit limit in the previous session after videos from PM Modi’s Italy visit went viral online, showing the Prime Minister gifting Melody toffees to Meloni.
• The visuals revived the popular “Melodi” meme on social media and triggered a surge in retail interest around stocks linked to the “Parle” name.
• Read Full Story However, Parle Industries has no connection with Melody toffees or Parle Products, the privately held FMCG company that manufactures Melody candies along with brands such as Parle-G, Monaco and KrackJack.