Shares of Parle Industries rose 5% and were locked in the upper circuit on Tuesday after Prime Minister Narendra Modi gifted a pack of Melody toffees to Italian Prime Minister Giorgia Meloni during his visit to Italy, triggering fresh social media attention around the popular candy brand.The stock climbed 5% to Rs 5.25 on the BSE during intraday trade as investors appeared to react to the viral "Melody" moment involving the two leaders. However, the company that gained on the exchanges has no connection with the Melody candy brand itself.Melody toffees are manufactured by Parle Products, the maker of Parle-G biscuits and several confectionery products. Parle Industries, on the other hand, operates in infrastructure, real estate development and paper waste recycling businesses.The confusion appeared to drive speculative buying in the stock after the gift exchange gained widespread attention online.The incident took place during PM Modi's visit to Rome, where he met Meloni over dinner and later visited the Colosseum alongside the Italian leader. Meloni later shared a post on X thanking Modi for the gift, posting a photograph of the Melody toffees.The reference quickly attracted attention because Melody has become an internet catchphrase associated with the friendly public interactions between Modi and Meloni over the past year.Social media users have frequently used the term playfully while referring to the diplomatic chemistry between the two leaders.PM Modi's Italy visit comes as India and Italy continue expanding ties across trade, defence, energy and technology cooperation.Trade between the two countries reached around $16.77 billion in 2025, while cumulative Italian foreign direct investment into India stood at around $3.66 billion between April 2000 and September 2025, according to official data.Also read: Vi shares double investments in 1 year. Here’s what analysts from Macquarie, JPMorgan, other global brokerages sayThe two countries are also advancing the India-Italy Joint Strategic Action Plan 2025-2029, focused on investment, clean energy, defence cooperation, science and technology and people-to-people engagement.Parle Industries did not issue any statement related to the stock movement.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)