Sweet confusion sends Indian penny stock Parle Industries higher

Parle Industries

22/05/2026 08:47

** Shares of Indian infrastructure firm Parle Industries PRLE.BO rise 4.9% to 5.78 rupees, set for fourth straight session of gains, after being mistaken for an unrelated, unlisted toffee maker Parle Products, two traders say

** Indian Prime Minister Narendra Modi gave Italian Prime Minister Giorgia Meloni a pack of ​toffees branded "Melody" earlier this week during a diplomatic visit to the European country

** Confusion over name led to punters pushing Parle Industries shares higher, traders say

** Shares hit highest in over a month on Friday and are up 10% over the last three days

** Parle Industries, based in Mumbai, is involved in infrastructure development and real estate

** Stock down 35.7% YTD up to last close

 (Reporting by Abinaya V in Bengaluru)

 ((Abinaya.V@thomsonreuters.com;))