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The Economic Times

Business

Akash Podishetti

Everything's in a name: Parle Industries shares hit 5% upper circuit after PM Modi's 'Melody' gift to Meloni

Narendra Modi Giorgia Meloni Parle Products

Shares of Parle Industries rose 5% and were locked in the upper circuit on Tuesday after Prime Minister Narendra Modi gifted a pack of Melody toffees to Italian Prime Minister Giorgia Meloni during his visit to Italy, triggering fresh social media attention around the popular candy brand.

The stock climbed 5% to Rs 5.25 on the BSE during intraday trade as investors appeared to react to the viral "Melody" moment involving the two leaders. However, the company that gained on the exchanges has no connection with the Melody candy brand itself.

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