Modi's Gift to Meloni Sparks Viral Buzz and Stock Surge
Viral Moment with Melody Toffees
Modi with his Italian counterpart Giorgia Meloni, in Rome, Italy. (Photo:PTI)
New Delhi, May 21: The online community erupted with excitement after Prime Minister Narendra Modi presented a packet of Melody toffees to Italian Prime Minister Giorgia Meloni, an interaction that quickly gained traction on social media.
This gesture ignited a flurry of “Melodi” memes, humorously connecting Meloni’s name with the beloved candy brand, amidst discussions about the friendly rapport between the two leaders.
Seizing the opportunity, Parle Products posted the video on Instagram, captioning it: “Sweetening relationships since 1983.”
Mayank Shah, Vice President and Chief Marketing Officer of Parle Products, expressed to CNBC-TV18 that this act was a clever way to promote Indian products on a global platform.
He anticipated a significant boost in both domestic and international sales following this viral moment.
In the meantime, shares of Parle Industries experienced a surge on Wednesday, climbing 5 percent to reach the upper circuit limit, driven by a sudden spike in investor interest after Meloni shared a video of Modi gifting her the Melody toffees.
The stock initially had a slow start but gained attention after Meloni remarked in the video, “Prime Minister Modi brought as a gift, a very, very good toffee – Melody.”
Investors quickly rushed to purchase shares, resulting in a 5 percent increase to Rs 5.25, the maximum trading limit for the day, with 8.57 lakh shares traded on the BSE.
However, there’s a twist!
Investors mistakenly believed that Parle Industries was the producer of Melody toffees. In reality, Parle Products, the FMCG giant, manufactures Melody toffees and is not publicly traded.