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Melody effect: Wrong 'Parle' stock hits 5% upper circuit for 4th day, up 21% since PM Modi's gift for Meloni
Parle Industries shares hit the 5% upper circuit for the fourth consecutive session amid speculation that investors are mistaking it for unlisted FMCG major Parle Products. The rally comes as social media discussions around PM Narendra Modi’s ‘Melody’ gift to Italy’s Giorgia Meloni fuel renewed attention on the Parle brand name.
Picked wrong Melody? Parle Industries shares hit 5% upper circuit for 3rd day
Parle Industries shares hit the 5% upper circuit for the third straight session after investors mistakenly linked the stock to Melody toffees gifted by PM Narendra Modi to Italy’s Giorgia Meloni. The viral social media moment sparked confusion between listed Parle Industries and unlisted FMCG giant Parle Products, fuelling a sharp rally in the microcap stock.