India, May 20 -- Prime Minister Narendra Modi, who is in Italy for an official trip, had an unusual gift for his Italian counterpart Giorgia Meloni - a pack of Melody toffees. And the news didn't just break the internet. They sent the stocks of Parle rallying. Track updates on Modi's Italy visit

But here is the twist. It was the wrong Parle that had its stocks rising following the 'Melodi' 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 specialises in real estate, infrastructure building and waste management and recycling.

Parle Industries share price hit 5% upper circuit on Wednesday and the small-cap penny st...