New Delhi: Shares of Parle Industries hit the 5 per cent upper circuit on Wednesday after a viral video showed Narendra Modi gifting \u201cMelody\u201d toffees to Giorgia Meloni during his visit to Italy.<\/p>\n
Following the viral clip, the company\u2019s stock price surged to \u20b95.25 per share amid heavy buying by retail investors.<\/p>\n
However, the most surprising aspect of the rally is that the listed company, Parle Industries, has no direct connection with the actual maker of Melody candies.<\/p>\n
Difference between Parle Industries and Parle Products<\/p>\n
Parle Products is the well-known FMCG company behind brands such as Parle-G, Monaco, Krackjack, Mango Bite, Poppins and Melody. The company is privately held and is not listed on the stock market.<\/p>\n
On the other hand, Parle Industries is a separate company listed on the BSE and has no business link with Melody candies.<\/p>\n
Market observers believe investors rushed to buy shares simply because the listed company carried the \u201cParle\u201d name, associating it with the viral \u201cMelodi\u201d moment.<\/p>\n
\u2018Melodi\u2019 memes trend again on social media<\/p>\n
The surge in the stock came shortly after a humorous video involving PM Modi and Meloni began circulating online.<\/p>\n
Social media users linked the clip with the popular hashtag \u201c#Melodi,\u201d a meme trend combining the names of Modi and Meloni that has repeatedly gone viral during their meetings.<\/p>\n
Meloni shared the video on X and thanked Modi for the gift.<\/p>\n
In the clip, she is heard saying that he had gifted her a \u201cvery, very nice candy,\u201d after which both leaders burst into laughter.<\/p>\n
The video quickly gained millions of views and reactions online, followed by sharp buying activity in Parle Industries shares.<\/p>\n","protected":false},"excerpt":{"rendered":"
New Delhi: Shares of Parle Industries hit the 5 per cent upper circuit on Wednesday after a viral video showed Narendra Modi gifting \u201cMelody\u201d toffees to Giorgia Meloni during his visit to Italy. Following the viral clip, the company\u2019s stock price surged to \u20b95.25 per share amid heavy buying by retail investors. However, the most […]<\/p>\n","protected":false},"author":1,"featured_media":65307,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19,37],"tags":[15140,15141,15142,15143],"class_list":["post-65306","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest","category-national","tag-melodi-moment","tag-sends-parle-industries","tag-shares-soaring-despite-no-link","tag-to-melody-candy"],"yoast_head":"\n