How PM Modi's 'Melody' Gift to Italian PM Meloni Sparked Confusion in Stock Market
Prime Minister Narendra Modi's recent visit to Italy created an unexpected stir—not only in political circles but also in the stock market. During his meeting with Italian Prime Minister Giorgia Meloni, Modi gifted her a packet of 'Melody' toffees—a small gesture that soon went viral on social media.
Immediately after the video surfaced online, shares of Parle Industries witnessed a sudden surge. Many investors assumed that this company was associated with the Melody toffees. However, this rally was based on a misconception.
In reality, Melody toffees are manufactured by Parle Products—a renowned FMCG company behind popular brands such as Parle-G, Monaco, Hide & Seek, and Mango Bite. Parle Products is a privately held company and is not listed on the stock exchange.
Small investors mistakenly began buying shares of Parle Industries
Despite this, small investors mistakenly began buying shares of Parle Industries, a company engaged in businesses such as real estate, infrastructure, waste management, and recycling. The company witnessed unusually heavy trading, with approximately 8 lakh shares changing hands—a volume significantly higher than its usual average.
This "Melody Moment" itself became one of the highlights of Modi's visit to Italy. In the viral clip, Meloni can be seen holding the packet and saying, "PM Modi has brought a gift for us. It is Melody." She later shared the video online with the caption, "Thanks for the gift."
This lighthearted exchange between the two leaders successfully captured public attention and became a major topic of discussion on social media.