PM Modi-Meloni Meet: Parle Industries jumped 5% — from Rs 4.95 to Rs 5.25 — within an hour of the “Melody” reel going viral.When Prime Minister Narendra Modi met his Italian counterpart Giorgia Meloni in Rome on Wednesday, the internet reacted as was expected. It got flooded with “Melodi” memes —
a playful blend of “Meloni” and “Modi”.This time, PM Modi leaned into the joke. He gifted Meloni a packet of “Melody” toffees — the chocolate-caramel candy made by Parle Products.It was a light moment. A sweet gesture. A social media win.But then Dalal Street did something no one expected.
Within minutes of Meloni’s reel going viral, investors rushed to the BSE terminal to look up “Parle”.They found Parle Industries. And they started buying. There was just one problem. Parle Industries does not make Melody toffee. It does not make biscuits or snacks. It has nothing to do with Parle Products.The Melody toffee actually comes from Parle Products, the Mumbai-based FMCG major behind Parle-G, Monaco, Hide & Seek, Mango Bite and more. But Parle Products is privately held. It is not listed on the stock exchange
. There is no stock to buy. However, investors, in a hurry, bought the only “Parle” they could find. Meanwhile, Parle Industries is an infra and real estate company. It also deals in paper, paper waste, and recycling products. But the similarity in the name was enough.A 5% Jump In A Falling MarketWhile the broader market struggled through the session amid global nervousness over the Iran conflict, Parle Industries’ stock did the opposite. Parle Industries jumped 5% — from Rs 4.95 to Rs 5.25 — within an hour of the “Melody” reel going viral.
