Parle stocks' ‘melodious’ moment as stocks rise 5% after PM Modi gifts Melody to Meloni. But there is a twist

PRime government minister Narendra Modi, who is in italia for an functionary trip up, had an unusual gift for his Italian opposite number Giorgia Meloni – a pack of Melody toffees. And the news didn't just break the internet. They sent the stocks of Parle rallying. Track updates on Modi's Italy visitBut here is the twist. It was the wrong Parle that had its stocks rising following the ‘Melodi’ moment in Italy. Melody toffee is manufactured by privately held FMCG Parle Products, but apparently, retail investors rushed to buy shares of Parle Industries, a company that specialises in real estate, infrastructure building and waste management and recycling.Parle stocks riseParle Industries share price hit 5% upper circuit on Wednesday and the small-cap penny stock rallied 5% to ₹5.25 apiece on the BSE, Live Mint reported.The rally in Parle Industries shares was backed by heavy volumes as around 8 lakh equity shares of Parle Industries changed hands on stock exchanges. This is significantly higher than its one-week average trading volume of 2 lakh shares and its one-month average volume of 3 lakh shares.The Melody toffee, which became the talk of town in the backdrop of PM Modi's visit to Italy, is owned Parle Products, an FMCG company based in Mumbai. Parle Products is recognised for brands such as Parle-G, Monaco, Hide & Seek, and Mango Bite. It is, however, not listed on the stock markets.Mayank Shah of the Parle Products told CNBC-TV18 that PM Modi's Melody gift to Meloni has helped place Indian products on a larger global stage.Modi gifts Melody to MeloniThe highlight of PM Modi's Italy visit has been his gift of Melody toffees to Meloni. In the video, Meloni can be heard saying, “PM Modi brought us a gift. It is Melody,” while holding a pack of Melody chocolates gifted by Modi.“Thank you for the gift," Meloni wrote as she shared the video. The moment quickly drew attention online, with social media users reacting to the light moment that the two leaders shared. Modi landed in Rome on Tuesday for the fifth and final leg of his five-nation tour, at the invitation of PM Meloni. The visit comes as India and Italy continue to deepen ties under the Joint Strategic Action Plan 2025-2029, which focuses on cooperation in trade, investment, defence, clean energy, innovation, science and technology, and cultural exchanges.Bilateral trade between the two countries reached USD 16.77 billion in 2025, while cumulative Italian foreign direct investment in India stood at USD 3.66 billion between April 2000 and September 2025.The Italy visit is the last leg of PM Modi's five-nation tour that also spanned the UAE, the Netherlands, Sweden and Norway.Opposition slams ModiLeader of the Opposition in Lok Sabha, Rahul Gandhi, criticised Modi “handing out toffee in Italy” at a time when India was facing an “economic storm”.Gandhi said in a post on X that an “economic storm is raging” in the country while the prime minister was “busy handing out toffee in Italy”.“Farmers, youth, women, laborers, and small traders are all in tears - the PM is laughing and making reels, while the BJP folks are clapping along. This isn't leadership, it's a farce,” he added.Notably, the term "Melodi", created by combining the names Modi and Meloni, was first used by the Italian Prime Minister at COP28 in Dubai in 2023. It later became popular online after the two leaders were seen sharing friendly moments at international events.