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What is the story about?
Shares of Parle Industries surged sharply and hit upper circuit after a viral video featuring Prime Minister Narendra Modi and Italian Prime Minister Giorgia Meloni triggered a social media frenzy around Melody toffees.
The rally came despite Parle Industries having no connection with Melody candies or Parle Products, the privately held maker of brands such as Parle-G, Melody, Monaco, KrackJack and Hide & Seek.
The now-viral clip showed Modi gifting a packet of Melody toffees to Meloni during his visit to Rome. In the video, Meloni says, “Prime Minister Modi brought as a gift a very, very good toffee.”
“Melody,” Modi replies, sparking laughter and reviving the popular “Melodi” meme trend on social media, referring to the camaraderie between the two leaders.
The internet-breaking moment quickly spilled over to Dalal Street, with retail investors piling into shares of the similarly named Parle Industries.
Also Read: Parle says no IPO plans despite Melody’s viral global moment
Parle Industries was incorporated in 1983 as Express Bottlers Services Pvt Ltd and was later renamed Parle Software Ltd. While it was originally promoted by the Parle-Bisleri group, the company now operates independently with businesses spanning infrastructure, real estate and paper waste recycling.
Speaking to CNBC-TV18, Parle Products Vice President Mayank Shah said Modi gifting Melody toffees to Meloni was “a nice way of pushing Indian products and giving them a global stage”.
Shah said Melody is already exported to more than 100 countries and added that the viral moment could further boost both domestic and international sales for the confectionery brand.
The rally came despite Parle Industries having no connection with Melody candies or Parle Products, the privately held maker of brands such as Parle-G, Melody, Monaco, KrackJack and Hide & Seek.
The now-viral clip showed Modi gifting a packet of Melody toffees to Meloni during his visit to Rome. In the video, Meloni says, “Prime Minister Modi brought as a gift a very, very good toffee.”
“Melody,” Modi replies, sparking laughter and reviving the popular “Melodi” meme trend on social media, referring to the camaraderie between the two leaders.
The internet-breaking moment quickly spilled over to Dalal Street, with retail investors piling into shares of the similarly named Parle Industries.
Also Read: Parle says no IPO plans despite Melody’s viral global moment
Parle Industries was incorporated in 1983 as Express Bottlers Services Pvt Ltd and was later renamed Parle Software Ltd. While it was originally promoted by the Parle-Bisleri group, the company now operates independently with businesses spanning infrastructure, real estate and paper waste recycling.
Speaking to CNBC-TV18, Parle Products Vice President Mayank Shah said Modi gifting Melody toffees to Meloni was “a nice way of pushing Indian products and giving them a global stage”.
Shah said Melody is already exported to more than 100 countries and added that the viral moment could further boost both domestic and international sales for the confectionery brand.
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