Parle Industries shares jump 5% after PM Modi gifts Melody to Giorgia Meloni

Shares of Parle Industries rose sharply on Tuesday after Prime Minister Narendra Modi gifted a packet of Melody toffees to Italian Prime Minister Giorgia Meloni during his Italy visit, reviving the viral “Melodi” trend online. Parle Industries shares climbed 5% intraday to Rs 5.25. The stock was also up nearly 7% over the past one week. However, there is an important catch. The listed company, Parle Industries, does not actually make Melody toffees. WHO MAKES MELODY? Melody is made by Parle Products, the well-known FMCG company behind brands such as Parle-G, Monaco, KrackJack, Mango Bite and Poppins. Parle Products is a privately held company and is not listed on the stock market. Meanwhile, Parle Industries is a separate listed entity on the BSE and has no direct business connection with Melody candies. This appears to be a case where retail investors and traders linked the “Parle” name with the viral Melody moment and rushed to buy shares of the listed company carrying the Parle name. WHAT TRIGGERED THE 'PARLE' RALLY? The rally was triggered after a light-hearted video featuring Modi and Meloni went viral online. In the clip, PM Modi was seen gifting a packet of Melody candies to Meloni, in what many users saw as a playful reference to the popular “#Melodi” phrase used online for the two leaders. Meloni later shared the clip on X and wrote, “Thank you for the gift.” In the video, she was also heard saying, “He gifted... a very, very good toffee,” after which both leaders laughed. The video quickly went viral, drawing lakhs of views, reactions and comments across social media platforms. Soon after the clip gained traction, Parle Industries shares witnessed strong buying activity. SOCIAL MEDIA-DRIVEN STOCK MOVES Dalal Street has increasingly seen cases where stocks move sharply because of social media buzz, viral trends or confusion around company names. Smaller and low-priced stocks often witness sudden spikes when retail traders connect them to trending topics, even if there is no direct business impact. Despite today’s rise, Parle Industries shares remain under pressure over the longer term. The stock is still down around 41% in the last three months, 46% in six months, and over 68% in one year. The move highlights how viral moments and online trends are increasingly influencing trading activity in certain pockets of the market. (Disclaimer: The views, opinions, recommendations, and suggestions expressed by experts/brokerages in this article are their own and do not reflect the views of the India Today Group. It is advisable to consult a qualified broker or financial advisor before making any actual investment or trading choices.) Ends