Shares of Parle Industries continued their sharp rally on Friday, as the stock surge triggered by the viral Modi-Meloni “Melodi” moment refused to fade.
Parle Industries shares climbed 4.90% to Rs 5.78 on Friday, close to their 52-week high of Rs 17.44 touched in May 2025. The company’s market capitalisation currently stands at around Rs 28.23 crore.
The rally comes despite the fact that Parle Industries has , which became the centre of social media attention earlier this week.
The buzz began after Prime Minister Narendra Modi gifted Melody toffees to Italian Prime Minister Giorgia Meloni during his Italy visit.
In a widely shared video, Modi handed over a packet of Melody candies to Meloni in what many online users described as a playful nod to the viral “Melodi” nickname used on social media for the two leaders.
The clip quickly went viral, clocking millions of views and triggering a frenzy online.
Soon after, retail investors appeared to rush into
However, Melody toffees are actually made by Parle Products, which is an unlisted company and not traded on the stock market.
Parle Industries, whose shares have been rallying sharply over the past few sessions, is a completely separate listed entity and has no known business connection with Melody chocolates.
The incident has once again highlighted how viral social media trends and brand-name confusion can sometimes trigger sharp moves in small-cap and penny stocks.
Even after the confusion became widely known, buying interest in the stock continued.
Market observers say low-priced stocks with small market capitalisations often witness sharp price swings when retail trading activity spikes.
The stock has now hit upper circuits for three straight sessions as traders continue to chase momentum.
Interestingly, despite the recent rally, the stock still remains sharply lower over the longer term down over 40% in the last three months,lower by nearly 46% over six months,and down more than 68% over the past year.
The Parle Industries episode adds to a growing list of cases where investors have bought shares of similarly named companies after viral news events or social media trends.
In recent years, several little-known stocks have witnessed sudden spikes because of brand-name similarities, celebrity mentions, political events, or viral online discussions.
Analysts often warn retail investors against making investment decisions based purely on social media trends or company names without checking business fundamentals.
(Disclaimer: The views, opinions, recommendations, and suggestions expressed by experts/brokerages in this article are their own and do not reflect the views of the India Today Group. It is advisable to consult a qualified broker or financial advisor before making any actual investment or trading choices.)