Parle Industries shares surged to the upper circuit after a viral video of Prime Minister Narendra Modi gifting “Melody” toffees to Italian PM Giorgia Meloni triggered confusion among retail investors.
The buzz around the “Melodi” meme led some traders to mistakenly associate Parle Industries with Parle Products, the actual maker of Melody candies. The stock jumped despite having no business link to the FMCG brand.
Parle Products is privately held and not listed, while Parle Industries operates in infrastructure and recycling. The incident highlights how social media trends can sometimes drive irrational movements in stock markets.