Parle Industries shares hit 5% upper circuit after PM Modi’s ‘Melody’ gift to Meloni

Parle Industries’ stock spiked to its upper circuit limit after a clip went viral showing Italian Prime Minister Giorgia Meloni receiving a Melody toffee gift from Indian Prime Minister Narendra Modi during his Rome trip, reigniting the online ‘Melodi’ meme.

Nevertheless, the surge was unrelated to the true manufacturer of Melody sweets.

Parle Industries shares rose 5% intraday to ₹5.25 and gained almost 7% over the week as retail traders bought the shares, apparently confusing it with Parle Products – the privately held FMCG firm that owns Melody, Parle‑G, Monaco, KrackJack and Hide & Seek.

Actually, Parle Industries has no operational link to Melody toffees or Parle Products. The BSE‑listed firm works in infrastructure and real‑estate development and also trades paper, paper waste and related recycling items. It is presently a subsidiary of Fortune Point Exports Private Limited.

Founded in 1983 as Express Bottlers Services Pvt Ltd, the company was later renamed Parle Software Ltd before adopting the name Parle Industries. Though originally backed by the Parle‑Bisleri group, it now operates independently, with interests in real estate, infrastructure and recycling.

Meanwhile, Parle Products stays unlisted and remains one of India’s top biscuit and confectionery producers. Earlier, the firm drew investor interest amid IPO rumors, but later stated there is ‘nothing as of now’ concerning any public offering.

The recent rally was sparked by a viral video shared by Meloni during Modi’s Italy visit. In the clip, Meloni remarks, ‘Prime Minister Modi brought as a gift a very, very good toffee.’

Modi answers, ‘Melody,’ prompting laughter and instantly reviving the beloved ‘Melodi’ meme online, fueled by the rapport between the two leaders and Melody’s famous ‘very, very chocolaty’ slogan.

Within hours, the online buzz spilled onto Dalal Street, once again showing how viral moments and name confusion can trigger sharp moves in obscure stocks, particularly among retail investors chasing momentum.