Shares of Parle Industries hit another 5% upper circuit on Thursday after a viral moment involving Prime Minister Narendra Modi and Italian Prime Minister Giorgia Meloni reignited the popular “Melodi” trend across social media platforms.
The rally in the stock came after a light-hearted video surfaced online during PM Modi’s visit to Italy. In the clip, Modi was seen gifting a packet of Melody toffees to Meloni, which many social media users linked to the widely used “#Melodi” phrase referring to the two leaders.
Meloni later shared the video on social media platform X with the caption, “Thank you for the gift.” In the clip, she was also heard saying, “He gifted… a very, very good toffee,” following which both leaders shared a laugh.
The video quickly gained traction online, attracting lakhs of views, comments and reactions. Soon after the viral clip spread across social media, buying interest surged in Parle Industries shares, pushing the stock to another upper circuit limit.
However, there is an important clarification for investors. Parle Industries is not the maker of Melody toffees. The popular Melody candy brand is associated with Parle Products, a separate privately held FMCG company, and has no direct link with the listed entity Parle Industries.
Market participants often witness such momentum-driven moves in stocks when companies with similar names become associated with trending events or viral discussions online. Investors generally track such developments carefully before taking investment decisions.
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