Shares of Parle Industries Ltd surged 5 per cent to lock in the upper circuit even as benchmark indices remained volatile. The counter opened in the red at Rs 4.95, down from the previous close of Rs 5 on the BSE. However, it picked up momentum after 12 noon, amid a spurt in trading volume of more than 3.06 times, and was locked in a 5 per cent upper circuit. This surge came after Italian Premier Giorgia Meloni shared a video in which she thanked Prime Minister Narendra Modi for gifting her ‘Melody’ toffees. Manufactured by Parle Products, it features a dual-layer design – a chewy caramel exterior with a rich, molten chocolate centre. Parle Products has no connection with the listed company, Parle Industries, whose stock witnessed strong buying interest.
This apparently happened because Parle Industries was the only stock they could find after Meloni’s video went viral on social media.ย ย
Parle Products, the Mumbai-based FMCG major, manufactures products such as Parle-G, Monaco, Hide & Seek, Mango Bite, and more. But it is a privately held company and is not listed on the stock exchange.ย Parle’s iconic Melody toffee was introduced in 1983.ย
Parle Industries Share Price History
The stock surged amid social media buzz, but it remained under pressure over the longer term. According to BSE Analytics, the stock has gained just 3.96 per cent in one month and has corrected 35.02 per cent in three months.ย ย