The stock climbed 5 per cent intraday to ₹5.25 as social media buzz around the clip triggered heavy buying in the company’s shares.

The catch: Parle Industries does not make Melody

Despite the rally, the listed company has no connection with Melody toffees.

Melody is manufactured by Parle Products, the FMCG major known for brands such as Parle-G, Monaco, KrackJack, Mango Bite, and Poppins. Parle Products is a privately held company and is not listed on the stock exchange.

Parle Industries, on the other hand, is a separate BSE-listed entity and does not have any direct business link with Melody candies. 

  What triggered the rally?

The sharp rally in the stock followed a viral video featuring PM Modi and Giorgia Meloni during PM Modi’s visit to Rome, the final leg of his five-nation tour.

In the clip, shared by Giorgia Meloni on X, PM Modi was seen gifting her a packet of Melody candies. The Italian Prime Minister posted the video with the caption, “Thank you for the gift.”

The video rapidly gained traction online, attracting lakhs of views, comments and reactions across social media platforms. Soon after, shares of Parle Industries witnessed a spike in buying activity.