Parle Industries stock hits 5% again as 'Melody' Buzz conitnues to fuel rally

Parle Industries shares hit an upper circuit again after videos showed Prime Minister Narendra Modi gifting Melody toffees to Italian Prime Minister Giorgia Meloni. The move drew attention because the stock has no link to Parle Products, pointing to mistaken-identity buying.

In Short

• Parle Industries hits second straight upper circuit amid Melody meme frenzy
• PM Modi’s Melody gift sparks rally in unrelated Parle-linked stock
• Parle Products says viral Melody moment boosted online traction, visibility

Shares of Parle Industries continued their rally for a second straight session on Thursday, hitting the 5% upper circuit amid heightened investor interest following the viral “Melody” moment involving Prime Minister Narendra Modi and Italian Prime Minister Giorgia Meloni.

Parle Industries Ltd shares rose 4.95% to Rs 5.51 apiece as of 10:03 am on the Bombay Stock Exchange (BSE).

The stock had also hit its upper circuit limit in the previous session after videos from PM Modi’s Italy visit went viral online, showing the Prime Minister gifting Melody toffees to Meloni. The visuals revived the popular “Melodi” meme on social media and triggered a surge in retail interest around stocks linked to the “Parle” name.

However, Parle Industries has no connection with Melody toffees or Parle Products, the privately held FMCG company that manufactures Melody candies along with brands such as Parle-G, Monaco and KrackJack. The rally is widely being seen as a case of mistaken-identity buying driven by viral social media chatter.

Parle Products, meanwhile, said it was caught off guard by the attention the brand received after the diplomatic gesture.

Speaking to India Today, Parle Products Vice President Mayank Shah said the company was “completely taken by surprise” after PM Modi gifted Melody to Meloni. He added that the company had already seen a spike in traction across quick commerce and online platforms since the video went viral.

Shah said Melody is already the country’s largest-selling toffee brand and is sold in more than 200 countries. He added that the latest global attention could help accelerate demand overseas as well.

Despite the sharp move in Parle Industries shares, there has been no major corporate announcement or business development from the company to explain the rally.

Market experts said low-priced smallcap stocks often witness such momentum-driven activity when viral events, familiar brand names or social media trends capture retail investor attention.

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