Shares of Parle Industries surged sharply and hit the upper circuit after a viral video shared by Italian Prime Minister Giorgia Meloni showed Prime Minister Narendra Modi gifting her a packet of Melody toffees during his visit to Rome, reviving the internet-famous "Melodi" meme trend.
However, the rally had little to do with the actual maker of Melody candies.
Parle Industries shares climbed 5% intraday to Rs 5.25 and were up nearly 7% over the past week as retail investors rushed to buy the stock, apparently mistaking it for Parle Products — the privately held FMCG giant behind brands such as Melody, Parle-G, Monaco, KrackJack and Hide & Seek.
In reality, Parle Industries has no operational connection with Melody toffees or Parle Products. The BSE-listed company is engaged in infrastructure and real estate development and also deals in the trading of paper, paper waste and allied recycling products. It currently operates as a subsidiary of Fortune Point Exports Private Limited.
The company was originally incorporated in 1983 as Express Bottlers Services Pvt Ltd. It was later renamed Parle Software Ltd before eventually becoming Parle Industries. While it was initially promoted by the Parle-Bisleri group, it now functions independently with businesses spanning real estate, infrastructure and recycling.
Meanwhile, Parle Products remains an unlisted company and continues to be one of India's largest biscuit and confectionery makers. The company had earlier attracted investor attention amid speculation around a possible IPO, though it later clarified that there was "nothing as of now" regarding any public issue plans.
The latest rally was triggered by a viral clip posted by Meloni during Modi's Italy visit. In the video, Meloni says, "Prime Minister Modi brought as a gift a very, very good toffee."
"Melody," Modi replies, drawing laughter and instantly reviving the popular "Melodi" meme culture online, inspired by the chemistry between the two leaders and Melody's iconic "very, very chocolaty" tagline.
Within hours, the social media frenzy spilled over to Dalal Street, once again highlighting how viral moments and confusion around company names can spark sharp rallies in lesser-known stocks, especially among retail investors chasing momentum.
