• Parle Industries differs from Parle Products, maker of Melody toffee
• Parle Industries deals in real estate, paper and recycling business
• Parle Industries shares hit upper circuit five days running

Shares of Parle Industries have hit their upper circuit for five consecutive sessions. The stock has risen 27.71% in five days. The rally in the stock comes after a social post involving Prime Minister Narendra Modi gifting his Italian counterpart Georgia Meloni a packet of Melody toffee chocolate went viral. 

The video led to a buying frenzy over Parle Industries, a company that is not related to Parle Products, the maker of Melody and other popular FMCG items. The stock hit a series of upper circuits since then. In the current session, the stock rose 5% to Rs 6.36 compared to Monday's closing price of Rs 6.06. Market cap of Parle Industries rose to Rs 31.06 crore. 

Parle Industries, the stock gaining momentum and headlines from Modi's 'melody' moment is a completely different entity from Parle Products.

Parle Industries is engaged in the business of infrastructure and real estate development. It also trades in paper, paper waste, and related recycling products.

In an interaction with Business Today after the brand went viral, Parle Vice President Mayank Shah said, “We expect the growth to accelerate. It's a brand that's growing very well, and we would further see acceleration in growth.”

“It's the largest toffee brand of India, so the kind of growth that you would be seeing would be huge,” Shah added.

He said the rise in demand could come from across global markets as Melody is already available in nearly 100 countries. “Since morning, we have been getting suggestions like, 'Why don't you call it the national toffee brand or national toffee of India?'” Shah said.