The Stock That Wasn't: Modi-Meloni's 'Melody' Moment Sparks A Chocolaty Rally In Parle Shares

After Prime Minister Narendra Modi gifted a packet of the iconic Melody candy to Italian Prime Minister Giorgia Meloni, the light-hearted diplomatic gesture created an unexpected buzz on the Dalal Street. The "chocolaty" moment triggered a rally in Parle Industries shares, which got locked in at the upper circuit within minutes of the social media post.

The viral “Melodi” meme, a long-running internet reference to the camaraderie between PM Modi and PM Meloni, appeared to spill over into market sentiment as traders rushed to the beaten-down stock. Shares of Parle Industries, which had remained under pressure for months, got a sweet boost amid the social media frenzy after the much-talked-about gesture.

PM Modi In Italy

PM Modi is in Italy for the final leg of his five-nation tour and was welcomed in Rome on May 19 by his Italian counterpart Giorgia Meloni, whom he has often referred to as a “friend”.

Meetings between PM Modi and PM Meloni frequently generate buzz on social media, with the two leaders often sharing selfies and light-hearted moments online that quickly go viral. Riding on the popularity of the internet trend, the “Melodi” acronym, coined by combining the surnames of Meloni and Modi, has become a widely used social media reference to their warm diplomatic camaraderie.

Taking to X (formerly Twitter), PM Meloni shared the viral moment and wrote, "Thank you for the gift".

Parle Industries Share Price Hits Upper Circuit

Parle Industries' shares jumped 5 per cent to Rs 5.25 per share from Rs 5 apiece on the BSE. The troubled company's shares are down over 82 per cent since its January 2025 high.

Even as the stock has hit upper circuit, which means there are only buyers and no sellers at the moment, the stock is seeing high demand from investors.

As of the close of market, more than 4,000 buy orders were pending on the BSE for over 28 lakh shares.

At the upper circuit price of Rs 5.25 per share, the total value of pending buy orders stood at around Rs 1.47 crore. During the session, nearly 8.57 lakh shares worth about Rs 44 lakh changed hands on the BSE, a sizeable figure compared to the company’s market capitalisation of around Rs 26 crore.

Parle Industries: The Stock That Wasn't

The Parle Industries stock that is listed on the BSE has no connection with the confectionery brand or Parle Products, the maker of Melody chocolates.

The listed entity, Parle Industries Ltd, is primarily engaged in businesses such as real estate and paper waste recycling.

The company in question was originally incorporated as Express Bottlers Service Private Limited on January 15, 1983, under the Companies Act, 1956. Over the years, the company underwent multiple structural and name changes.

It was renamed Citra Flavours & Fragrances Ltd in 1992, followed by Bisleri Exports Ltd in 1994. In 1995, the company adopted the name Parle Software Ltd and remained a wholly owned subsidiary of Parle Bisleri Ltd until FY2000. It later became a subsidiary of Sun Beam Infotech Ltd and, following a scheme of arrangement, came under Eaugu Udyog Ltd. In September 2019, the company was renamed Parle Industries Ltd. At present, it is a subsidiary of Fortune Point Exports Private Limited.

Frequently Asked Questions

Q1. Why did Parle Industries shares hit the upper circuit?
Parle Industries shares rallied 5 per cent and hit the upper circuit after a viral social media moment in which Prime Minister Narendra Modi gifted Melody chocolates to Italian Prime Minister Giorgia Meloni. The “Melodi” meme trend triggered strong investor interest in the stock.

Q2. Is Parle Industries linked to Melody chocolates or Parle Products?
No. The listed company, Parle Industries Ltd, has no connection with Melody chocolates or Parle Products, the FMCG company that manufactures the candy.

Q3. What business does Parle Industries operate in?
Parle Industries Ltd is primarily involved in real estate and paper waste recycling businesses. The company was earlier known as Parle Software Ltd and has undergone multiple name and ownership changes over the years.