Modi's "sugar-giving" triggers a market misunderstanding, leading to a sudden surge in an Indian stock
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Golden Ten Data, May 20 — According to Bloomberg, a package of caramel toffee gifted by Indian Prime Minister Narendra Modi to Italian Prime Minister Meloni unexpectedly drove up the share price of a small software company on Wednesday. Parle Industries Ltd's share price rose by 5%, marking the largest increase in the past two months. The reason appears to be that investors mistakenly associated the company with Parle Products Pvt, the manufacturer of India's Melody candies and the famous Parle-G biscuits. This mix-up originated from a video released by Meloni. In the video, Modi gave her a package of Melody candies, which also brought the long-circulating “Melodi” meme on social media back into the spotlight. The term “Melodi” is a combination of the names Modi and Meloni.
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