A packet of Melody toffees gifted by Prime Minister Narendra Modi to his Italian counterpart Giorgia Meloni during his visit to the European country has unexpectedly turned into both a marketing win for Parle Products and a stock market frenzy on Dalal Street.
The viral moment, which quickly spread across social media platforms, has not only revived the internet’s famous “Melodi” meme trend but also sparked a sudden rally in shares of Parle Industries — despite the company having no connection to Melody toffees.
Parle Products, the company that actually manufactures Melody candies, says it is now expecting a major boost in sales after the viral attention.
Calling it an “internet-breaking moment”, Parle Products vice-president and chief marketing officer Mayank Shah said the social media buzz could significantly increase demand for the toffee in India and abroad.
“Expect a lot of traction in domestic & international sales after this internet-breaking moment,” Shah told CNBC-TV18, adding that the episode had given an Indian product a global spotlight.
“This is a nice way of pushing Indian products and giving a global stage,” he said.
Shah also thanked PM Modi for giving the brand massive visibility during the visit. According to him, Melody is already exported to more than 100 countries, and the latest viral moment could further strengthen the product’s global recognition.
Viral ‘Melodi’ trend triggers stock market confusion
While the candy brand celebrated the unexpected publicity, the viral moment also created confusion among retail investors.
Shares of Parle Industries jumped nearly 5 percent during Tuesday’s trading session after videos of Modi gifting Melody toffees to Meloni flooded social media. The penny stock has also gained around 7 percent over the past week.
However, many investors appeared to assume that Parle Industries was linked to the famous candy brand because of the shared “Parle” name.
In reality, Melody toffees are manufactured by Parle Products, the privately owned FMCG giant behind household brands such as Parle-G, Monaco, KrackJack, Mango Bite and Poppins.
Unlike Parle Industries, Parle Products is not listed on the stock exchange.
The viral rally appears to have started after a light-hearted exchange between Modi and Meloni began circulating online.
In the now-famous clip, Modi can be seen handing over a packet of Melody toffees to Meloni during their interaction.
Meloni later posted the moment online and wrote, “Thank you for the gift.”
In another clip, she is heard joking, “He gifted… a very, very good toffee,” further fuelling the already popular “Melodi” meme culture online.
Social media buzz now influencing Dalal Street
Market experts say the incident once again highlights how quickly social media trends and internet culture can influence trading activity, especially in penny stocks and lesser-known companies.
In recent years, several small-cap stocks have witnessed sudden spikes after getting linked — directly or indirectly — to viral news events, celebrities or trending online discussions.
As the Melody clip spread rapidly online, many traders seemingly rushed into buying Parle Industries shares without checking whether the listed company actually had any business connection to the toffee brand.
Despite the recent rally, Parle Industries continues to face pressure in the longer term.
The stock is still down nearly 41 percent over the last three months, around 46 percent in six months and more than 68 percent over the past year.
Still, for at least one trading session, a small packet of Melody toffees managed to create massive buzz across social media, brand marketing circles and the stock market at the same time.