Parle Industries shares jump 5% to ₹5 after 'Melody' video
Business
Parle Industries Ltd., a penny stock, jumped 5% to ₹5 after investors confused it with the famous "Melody" chocolate brand.
The buzz started when a video posted by Giorgia Meloni showed Modi gifting "Melody" toffees to Meloni, making people think the listed company was behind the candy.
Parle Industries not 'Melody' maker
During their meeting, Modi said that "Melody" was suggested as a portmanteau of their names, a moment that caught everyone's attention.
But here's the twist: Parle Industries is not the maker of the chocolates and has nothing to do with them.
The mix-up just shows how quickly social media moments can move markets.