Parle Industries Hits Upper Circuit After PM Modi’s ‘Melody’ Gift to Giorgia Meloni Goes Viral
Shares of Parle Industries surged sharply and hit upper circuit after a viral video showed Narendra Modi gifting Melody toffees to Giorgia Meloni during his visit to Rome. The internet-breaking moment triggered a fresh wave of “Melodi” memes across social media, reviving the popular online camaraderie trend around the two leaders. However, the rally created confusion on Dalal Street as Parle Industries has no connection with Parle Products, the privately held FMCG giant behind iconic brands like Melody, Parle-G, Monaco, KrackJack and Hide & Seek. Despite the lack of any business linkage, retail investors rushed into the namesake stock, driving sharp gains. Parle Products Vice President Mayank Shah later said the Prime Minister’s gesture gave Indian products a global platform and could further boost domestic and international sales for Melody, which is already available in over 100 countries. He also clarified that Parle Products currently has no plans for an IPO and intends to remain privately held for now.
