Parle Industries shares surged 5% on Tuesday and hit the upper circuit limit. During intraday trading on the BSE, the stock advanced 5% to Rs 5.25 as investors appeared to respond to the viral “Melody” exchange involving PM
Narendra Modi and Italian Prime Minister Giorgia Meloni. However, interestingly the listed company that witnessed the rally is not associated with the Melody candy brand.
Melody toffees are produced by Parle Products, the company known for Parle-G biscuits and a range of confectionery items. Parle Industries, meanwhile, is engaged in businesses such as infrastructure, real estate and paper waste recycling.
The widespread online attention surrounding the gift exchange seemingly led to speculative activity in the stock, despite there being no business link between the company and the confectionery brand. In fact, Parle Products is not a listed company.
Parle Industries did not release any official statement regarding the movement in its stock price, according to an ET report.
The episode unfolded during Prime Minister Narendra Modi’s visit to Rome. Meloni posted on X, thanking Modi for the gift and sharing a photograph featuring the Melody toffees.
The post quickly went viral, largely because “Melody” has evolved into a popular internet reference linked to the warm and friendly public appearances of Modi and Meloni.
Modi’s visit to Italy comes at a time when New Delhi and Rome are deepening cooperation in areas including trade, defence, energy and technology.
Bilateral trade between India and Italy stood at nearly $16.77 billion in 2025, while Italian foreign direct investment into India reached approximately $3.66 billion between April 2000 and September 2025, as per official figures.
The two nations are also moving ahead with the India-Italy Joint Strategic Action Plan 2025–2029, which focuses on sectors such as investment, clean energy, defence ties, science and technology, along with stronger people-to-people connections.
(Disclaimer: Recommendations and views on the stock market, other asset classes or personal finance management tips given by experts are their own. These opinions do not represent the views of The Times of India.)Ready to Make a Smarter Property Decision? Build Your Legacy with TOI Homes.
The TOI Business Desk is a vigilant and dedicated team of journal...
Read MoreThe TOI Business Desk is a vigilant and dedicated team of journalists committed to delivering the latest and most relevant business news from around the world to readers of The Times of India. The primary focus of the TOI Business Desk is to keep a watchful eye on the global business landscape, covering a wide spectrum of industries, markets, economic trends, in-depth analysis, exclusive reports and breaking stories that impact businesses and economies. With a mission to provide valuable insights and updates, the desk ensures that TOI readers are well-informed about the ever-changing and dynamic world of commerce and can navigate the complexities of the business world.
Read Less
Follow Us On Social Media