Melody Mania: How PM Modi-Meloni's Melody Moment Drives Wrong Parle Share To Upper Circuits? Up 10% In 2 Days

The Melody mania continues on May 21, after Prime Minister Narendra Modi gifted Italy's Prime Minister Giorgia Meloni a packet of Melody toffees, a small candy that tastes like chocolate and caramel. Two things happened in India following the 10-second clip shared by Meloni. Firstly, Melody candies went out of stock at quick commerce apps and a wrong Parle share price started hitting back-to-back upper circuits.

What PM Modi-Meloni's Melody Moment?

It all started on May 20th, Meloni shared a 10-second video on Twitter. She is standing beside India's PM as they both share a laugh. She said, "Prime Minister Modi, bought us a gift. A very very good toffee." PM Modi laughed as he said, "Melody"

Soon the internet exploded and memes surfaced with 'Melody' being the top trending word. Netizens gushed over the two leaders.

On his X handle, PM Modi said, "Upon landing in Rome, had the opportunity to meet Prime Minister Meloni over dinner followed by a visit to the iconic Colosseum. We exchanged perspectives on a wide range of subjects. Looking forward to our talks today, where we will continue the conversation on how to boost the India-Italy friendship."

Melody Out Of Stock:

But Meloni's post was so viral that customers flooded Blinkit, Zepto and Instamart to buy Melody toffees. It was soon reported as 'Out of stock' in several cities.

Blinkit confirmed on their Instagram handle, "We're seeing a sudden spike in Melody searches on the app."

Melody is made by Parle Products, a company with 97 years of legacy in India and popular in making biscuits, confectionery, snacks, rusk, the Platina range, Atta, Breakfast cereals and others. Its popular brand is Parle-G biscuit, which almost every Indian has grown up eating. Other brands are Gol Gappa, 20-20, Krackjack, Monaco, Marie, 2in1 eclairs, Hide & Seek, Poppins and among them is also Melody.

Melody is sold in two variants: Melody Max Chocolaty and Melody Chocolatey. The popular phrase for this toffee is "Melody Khao Khud Jaan Jao".

So, right after the PM Modi-Meloni clip, the surge in demand for Melody finally prompted Parle Products to respond, who were shocked but thrilled by the aftermath.

Parle Products shared Meloni's post on X as well. The parent company said, "Thank you, Hon'ble Prime Minister Narendra Modi for taking Parle Melody to the global stage. A proud moment for all of us at Parle Products to see an Indian favorite being shared across borders."

While this was a heartwarming aftereffect of the Melody moment, one stock also benefited. It was not even Parle Products, but just because it had the name 'Parle,' the BSE-listed stock witnessed strong buying.

Parle Industries Share Price:

Having the word "Parle" has done wonders for Parle Industries' share price on BSE. While this penny stock has gained by over 11% in the past five days, its most gains arrived after PM Modi-Meloni's Melody moment. Following Italy PM's post, investors went on stock exchanges BSE and NSE to search for Parle stock. They did find one but only on BSE.

It is Parle Industries. Just like the Melody toffee, huge buying demand escalated in Parle Industries. This led the penny stock to hit a 5% upper circuit at Rs 5.25 per share on May 20th alone. But that was not the end of it.

On May 21, Parle Industries stock touched yet another 5% upper circuit to Rs 5.51% on BSE, with a market capitalization of Rs 26.91 crore.

As many as 10,762,527 shares of Parle Industries were bought on the BSE at Rs 5.51 per share. An upper circuit occurs when there are only buyers and no sellers for a stock.

From May 20th to May 21st, Parle Industries shares have skyrocketed by 10%.

But the funny part is, Parle Industries is not the seller or maker of Parle Melody. In fact, Parle Industries is engaged in sectors like infrastructure, real estate, and waste management.

Parle Vs Parle:

As per Trendlyne, Parle Industries' core business model is centered on developing infrastructure projects and managing paper waste recycling operations. It serves as a diversified entity with a focus on urban development and environmental sustainability through its recycling segment.

On the other hand, Parle Products is the maker of Melody and not listed on any stock exchanges. Parle Products is engaged into food processing and its best selling biscuit brand in the world is Parle-G.

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