Prime Minister Narendra Modi, who is in Italy on an official visit, made an unusual gift for his Italian counterpart Giorgia Meloni – a packet of Melody toffees. And this news spread not only on the Internet. He sent Parle stock by rallying it. Track updates on Modi’s Italy visit
But herein lies the catch. It was a wrong parlay whose shares soared after ‘Melody’ moment in Italy. Melody Toffee is manufactured by privately held FMCG Parle Products, but apparently, retail investors rushed to buy shares of Parle Industries, a company that specializes in real estate, infrastructure construction, and waste management and recycling.
Parle shares rise
On Wednesday, Parle Industries share price hit upper circuit by 5% and the small-cap penny stock gained 5%. ₹5.25 per share on BSE, as per Live Mint report.
The rise in Parle Industries stock was supported by huge volumes as around 8 lakh equity shares of Parle Industries traded on the stock exchanges. This is significantly higher than its one-week average trading volume of 2 lakh shares and its one-month average volume of 3 lakh shares.
Melody Toffee, which became the talk of the town in the backdrop of PM Modi’s visit to Italy, is owned by Mumbai-based FMCG company Parle Products. Parle Products is recognized for brands like Parle-G, Monaco, Hide & Seek and Mango Bite. However, it is not listed on the stock exchanges.
Mayank Shah of Parle Products told CNBC-TV18 that PM Modi’s Melody gift to Meloni has helped put Indian products on a bigger global platform.
Modi gifts Melody to Meloni
The highlight of PM Modi’s visit to Italy is gifting Melody toffee to Melon. In the video, Meloni can be heard holding a packet of Melody chocolates gifted by Modi, saying, “PM Modi has brought a gift for us. This is Melody.”
While sharing the video, Meloni wrote, “Thank you for the gift.” The moment immediately gained attention online, with social media users reacting to the light moment shared by the two leaders.
Modi arrived in Rome on Tuesday for the fifth and final leg of his five-nation tour at the invitation of PM Meloni. The visit comes as India and Italy continue to deepen ties under the Joint Strategic Action Plan 2025-2029, which focuses on cooperation in trade, investment, defence, clean energy, innovation, science and technology and cultural exchanges.
Bilateral trade between the two countries is projected to reach US$16.77 billion in 2025, while cumulative Italian foreign direct investment in India between April 2000 and September 2025 stands at US$3.66 billion.
The Italy visit is the last leg of PM Modi’s five-nation tour which also includes the UAE, Netherlands, Sweden and Norway.
Opposition targeted Modi
Leader of the Opposition in the Lok Sabha, Rahul Gandhi criticized Modi for “distributing toffees in Italy” at a time when India was facing an “economic storm”.
Gandhi, in a post on Twitter, said there was an “economic storm going on” in the country while the Prime Minister was “busy distributing toffees in Italy”.
“Farmers, youth, women, laborers and small traders are all shedding tears – the PM is laughing and making reels, while BJP people are clapping. This is not leadership, this is a farce,” he said.
Notably, the word “Melodi”, created by combining the names Modi and Meloni, was first used by the Italian Prime Minister at COP28 in Dubai in 2023. It later became popular online when the two leaders were seen sharing friendly moments at international events.
