Parle vs Parle: How Modi-Meloni video resulted in price rise of namesake stock

The video of Italian Prime Minister Giorgia Meloni showing Prime Minister Narendra Modi gifting her a packet of Melody toffees during his visit to Rome has gone viral on social media.

In the clip, which has been viewed millions of times, Meloni is heard saying, “Prime Minister Modi brought as a gift a very, very good toffee,” to which Modi responded, “Melody.”

"Thank you for the gift," the video caption read. But that’s not the only effect that the video has had.

Shares of Parle Industries jumped and hit the upper circuit on Wednesday after investors piled into it. However, there’s just one small issue. Parle Industries has nothing to do with Melody toffees.

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But what happened? What is Parle Industries? How did the confusion cause its stock to rise?

Let’s take a closer look

What happened?

After the video of Modi and Meloni went viral, shares of Parle Industries shot upwards. This came after investors piled into the stock. The price of Parle Industries shares also climbed 5 per cent to Rs 5.25 per share intraday. Parle Industries shares were also up 7 per cent for the week.

The only problem is that Melody is made by Parle Products, an FMCG company that also makes popular products such as Parle-G, Monaco, KrackJack, Mango Bite and Poppins. This is a privately held firm which is not listed on the Bombay Stock Exchange (BSE).

Prime Minister Narendra Modi and Italy's Prime Minister Giorgia Meloni pose for a photograph in Rome on May 19, 2026. (Photo: ANI)

According to Moneycontrol, Parle Industries was formed in 1983 as Express Bottlers Services Pvt Ltd. It was later rebranded as Parle Software Ltd. While the company was originally promoted by the Parle-Bisleri group till 1999-2000, it is now an independent venture. Its businesses include infrastructure, real estate and paper waste recycling. It seems that investors may have, based on the viral moment and in a feeding frenzy, bought shares of Parle Industries based on its name.

However, according to India Today, the Parle Industries stock remains underwater by 41 per cent over the past three months, 46 per cent over the past six months and over 68 per cent over the past year. The story demonstrates why investors should be cautious about chasing trends.

‘Thankful to PM Modi’

Parle Products Vice President Mayank Shah told CNBC-TV18 that Modi gifting Melody toffees to Italian Prime Minister Giorgia Meloni was a "nice way of pushing Indian products and giving them a global stage."

Shah added that Parle Products is "thankful to PM Modi for giving us the global stage." He added that Melody is already exported and available in more than 100 countries. He also said that the company is "not considering listing on exchanges right now" and would prefer to remain a private firm.

The hashtag "Melodi", a blend of Modi and Meloni's names, was coined by the Italian Prime Minister during COP28 in Dubai in 2023 and later went viral on social media following the warm interactions between the two leaders at global events.

"Good friends at COP28," Meloni had posted on social media with the hashtag "Melodi", captioning a photograph with the Indian leader. Modi, who arrived in Rome on Tuesday, is on the final leg of his five-nation tour to the UAE, the Netherlands, Sweden, Norway and Italy from May 15-20.

He is visiting Italy at the invitation of Meloni to further strengthen bilateral cooperation in areas such as trade, defence, clean energy and technology. The two leaders have maintained close engagement in recent years, with Meloni also visiting India for the G20 Summit in 2023.

FAQs

1. Why did Parle Industries shares rise after the Modi–Meloni video?

Shares of Parle Industries surged after the viral video of Narendra Modi gifting Melody toffees to Giorgia Meloni apparently triggered confusion among investors.

2. Does Parle Industries make Melody toffees or Parle-G biscuits?

No. Melody toffees and products like Parle-G biscuits are made by Parle Products, a privately held FMCG company.

3. What does this incident reveal about stock market behaviour?

The episode highlights how viral moments and brand-name confusion can influence stock prices, especially in lesser-known companies.

With inputs from agencies