PM Modi gave ‘Melody’ toffee in Italy, here in India the money of investors of this stock doubled
Melody Toffee Viral Video Impact on Share Market: Such strange and interesting incidents are often seen in the share market, when a news or social media trend has a direct impact on the shares of companies. Recently, one such surprising case has come to light, where a small gift from the country’s Prime Minister Narendra Modi brightened the fortunes of stock market investors. During his visit to Italy last month, PM Modi had gifted India’s famous toffee ‘Melody’ to the Prime Minister Georgia Meloni.
Looting broke out in the market as soon as the video went viral on social media
Italian Prime Minister Georgia Meloni had shared a short video of this meeting with PM Modi on social media, which instantly went viral like wildfire all over the world. The effect of this viral video was that a huge crowd of investors gathered in the Indian stock market to buy shares of ‘Parle Industries’. Within just 22 days, the shares of this company surprised everyone by giving a whopping return of 116 percent. But the biggest twist in this story is that the company whose shares were bought by investors like crazy, has no connection whatsoever with Melody Toffee.
Sweetness of melody caused earthquake in stock market, upper circuit started every day
This memorable video of the meeting of the two veteran Prime Ministers in Italy came into discussion on May 20. On the same day, the stock of Parle Industries was trading peacefully in the stock market at a price of just Rs 5. As soon as the news of the melody gained momentum on the internet and in the market, there was a race to buy this share. On the very first day it hit upper circuit and reached the level of Rs 5.25. This penny stock in the market The demand increased so rapidly that except for a few days, the process of setting up upper circuits started on a daily basis.
Investors became rich in just three weeks, ₹5 share crossed ₹10
The result of this tremendous enthusiasm of investors in the market was that even on June 11 (Thursday), this stock hit an upper circuit of 5 percent. Now this penny stock has increased to the historical level of Rs 10.81. In simple words, the investors who had invested only Rs 1 lakh in this share on May 20, their investment has increased to more than Rs 2 lakh in just 22 days. In the world of stock market, a rise of 116 percent in such a short time is considered no less than a lottery.
Big name confusion changed the fortunes of this anonymous stock overnight.
Now let us understand the funniest and eye-opening aspect of this entire incident. ‘Parle Industries’, in which investors have invested crores of rupees, does not actually manufacture biscuits or toffee, but is a company working in the field of infrastructure, real estate development and paper waste recycling. This Mumbai-based company has nothing to do with the manufacturing or sale of Melody Toffee. Parle Products Vice President Mayank Shah himself has come forward and confirmed that Parle Industries is a completely different company.
Then which is the real Melody manufacturing company and where is it?
In the market, the name of the real company whose famous products we all have been buying like Parle-G, Melody, Monaco, Crackjack or Hide and Seek biscuits since childhood is ‘Parle Products’. This is a very big and famous FMCG company of the country, which is currently listed in the stock market. Not even listed. Common investors got huge confusion just because of the word ‘Parle’ in the names of both the companies and without thinking and without doing any research, they bought shares of the wrong company, which changed its fortunes.
Disclaimer: This article is for general information only. This should not in any way be considered as advice for investing in the stock market. There is risk in the stock market, so before taking any decision related to money, consult your certified financial advisor.
