New Delhi, May 20 -- Parle Industries share price hit 5% upper circuit on Wednesday, led by strong buying momentum. The small-cap penny stock rallied as much as 5% to Rs.5.25 apiece on the BSE.

The rally in Parle Industries shares was supported by heavy volumes. Around 8 lakh equity shares of Parle Industries changed hands on stock exchanges, significantly higher than its one-week average trading volume of 2 lakh shares and its one-month average volume of 3 lakh shares.

Today, Italian Prime Minister Giorgia Meloni revealed in a social media post that Prime Minister Narendra Modi had gifted her a pack of Melody toffees. The development sparked investor interest in the small-cap penny stock, despite the company having no connection with t...