Shares of a BSE-listed real estate company, Parle Industries, surged sharply and hit the upper circuit after a viral video shared by Italian Prime Minister Giorgia Meloni showed Prime Minister Narendra
Modi gifting her a packet of Melody toffees during his visit to Rome, triggering a fresh wave of the internet-famous ‘Melodi’ meme trend.
The rally, however, had little to do with the actual maker of Melody candies.
Retail investors rushed to buy shares of BSE-listed Parle Industries, apparently mistaking it for Parle Products, the privately held FMCG major behind brands such as Parle-G, Melody, Monaco, KrackJack and Hide & Seek.
Parle Industries is a company engaged in infrastructure and real estate development. It is also involved in the trading of paper, paper waste and allied recycling products. Currently, Parle Industries operates as a subsidiary of Fortune Point Exports Private Limited.
The company has no connection with Parle Products, the maker of Melody toffees and Parle-G biscuits.
However, Parle Products is a separate company, which was originally a wholly owned subsidiary of Parle-Bisleri Ltd, promoted by the Parle-Bisleri Group, until 1999-2000. However, it is no longer associated with either the Bisleri or Parle group.
Viral video sparks Dalal Street frenzy
The trigger for the rally was a now-viral clip posted by Meloni on social media during Modi’s Italy visit. In the video, Meloni says, “Prime Minister Modi brought as a gift a very, very good toffee.”
“Melody,” Modi replies, drawing laughter and instantly reviving the “Melodi” meme culture online, built around the chemistry between the two leaders and Melody’s iconic “very, very chocolaty” tagline.
Within hours, the social media buzz spilled over to Dalal Street, with investors piling into shares of the similarly named company.
No connection with Melody maker
Despite the rally, Parle Industries has no operational link with Melody candies or Parle Products.
The company was incorporated in 1983 as Express Bottlers Services Pvt Ltd and was later renamed Parle Software Ltd before eventually becoming Parle Industries. While it was originally promoted by the Parle-Bisleri group, it now operates independently with businesses spanning infrastructure, real estate and paper waste recycling.
Parle Products, meanwhile, remains an unlisted company and continues to be one of India’s largest biscuit and confectionery makers.
IPO buzz had earlier put Parle Products in spotlight
Parle Products had also attracted investor attention earlier amid reports around a potential IPO. The company, however, later clarified that there was “nothing as of now” regarding any plans for a public issue.
The latest episode once again highlights how viral social media moments and confusion around company names can trigger sharp moves in lesser-known stocks, especially among retail investors chasing momentum.
