Prime Minister Narendra Modi created a viral moment during his official visit to Italy after gifting a pack of Melody toffees to Italian Prime Minister Giorgia Meloni. The light-hearted exchange grabbed massive attention online and unexpectedly triggered a rally in the stock market.
However, investors ended up buying shares of the wrong company.
Wrong Parle company benefits from viral moment
Melody toffees are made by Parle Products, the well-known FMCG company behind brands like Parle-G, Monaco, Hide & Seek and Mango Bite. But Parle Products is not listed on the stock market.
Instead, retail investors rushed to buy shares of Parle Industries, a small-cap company involved in real estate, infrastructure construction, waste management and recycling.
Following the viral “Melodi” trend, Parle Industries shares hit the 5 percent upper circuit on Wednesday. The stock climbed 5 percent to ₹5.25 per share on the BSE, according to Live Mint.
Heavy trading volumes recorded
The rally also saw unusually high trading activity. Around eight lakh equity shares of Parle Industries changed hands during trading sessions.
The volume was far higher than the company’s usual activity. Its one-week average trading volume stood at nearly two lakh shares, while the one-month average remained around three lakh shares.
The sudden jump highlighted how social media buzz and viral trends can sometimes influence retail investor behaviour in the stock market.
PM Modi’s Melody gift goes viral
The viral moment began when PM Modi presented a packet of Melody toffees to Giorgia Meloni during his Italy visit.
In a video shared online, Meloni held the pack of chocolates and said, “PM Modi brought us a gift. It is Melody.”
She later posted the clip on social media with the caption, “Thank you for the gift.”
The interaction quickly spread online, with users reviving the popular “Melodi” nickname — a combination of Modi and Meloni — which first gained attention during the COP28 summit in Dubai in 2023.
Parle Products reacts
Reacting to the viral attention, Mayank Shah from Parle Products told CNBC-TV18 that PM Modi’s gesture helped showcase Indian products on a wider global platform.
The video also boosted online conversations around Melody toffees and Parle’s popular products.
Modi’s Italy visit focuses on stronger ties
PM Modi arrived in Rome on Tuesday for the fifth and final leg of his five-country tour. He visited Italy at the invitation of PM Meloni.
The visit comes as India and Italy continue expanding cooperation under the Joint Strategic Action Plan 2025–2029. The agreement focuses on trade, defence, investment, clean energy, innovation, science, technology and cultural partnerships.
Bilateral trade between India and Italy reached USD 16.77 billion in 2025. Italian foreign direct investment in India stood at USD 3.66 billion between April 2000 and September 2025.
Before Italy, PM Modi also visited the United Arab Emirates, Netherlands, Sweden and Norway.
Rahul Gandhi criticises PM Modi
Meanwhile, Leader of the Opposition in Lok Sabha Rahul Gandhi criticised PM Modi over the viral “Melodi” moment.
Rahul Gandhi said the Prime Minister was “handing out toffee in Italy” while India faced an “economic storm”.
In a post on X, he wrote that an “economic storm is raging” in the country while PM Modi 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.