• Source:JND

Parle Industries share price hit the upper circuit for the second consecutive day as the buying interest persists. The small-cap stock came on investors' radar after Prime Minister Narendra Modi gifted 'Melody' Toffee--Which is manufactured by Parle Products Pvt Ltd-- to his Italian counterpart Giorgia Meloni.

The stock opened with a 4.95 per cent of Rs 0.26 gap up at Rs 5.51--which is the upper circuit limit of the Parle Industries shares. Meanwhile, its 52-week high and low values stood at Rs 17.44 and Rs 4.11, respectively

The rally in the stock came despite the revelation that Parle Industries and Parle Products are two different companies and are not interconnected. Moreover, Parle Products, which manufactures 'Melody' Toffee and other FMCG products.

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Earlier, in a previous trade, Investors showed buying interest on a short rally optimism picked the wrong stocks as Parle Industries has nothing to do with Parle Products, which manufactures Melody toffee, and is not a listed company.

Parle Products, which is a big FMCG company headquartered in Mumbai, also produces popular products such as Parle-G, Hide & Seek, Monaco and other products.

Parle Industries Share Price: The stock started the session flat at Rs 4.95 on NSE. However, after the photos surfaced on the internet, the stock saw a massive buying interest, which in turn led to a rally of 5 per cent--upper circuit limit. The stock was at Rs 5.25, up Rs 0.25 or 5 per cent.

Meanwhile, its 52-week high and low values stood at Rs 17.44 and Rs 4.11, respectively.

Also Read: Wrong Parle Shares Hit 5% Upper Circuit After PM Modi Gifts Melody Toffee To Georgia Meloni

Parle Industries Vs Parle Products

Perle Industries is a listed company founded in 1983 as Express Bottlers Services Pvt. Its name was changed to Parle Software Limited, originally promoted by the Parle-Bisleri group. Currently, the company operatres independently with exposure in infrastructure, real estate and waste recycling businesses.

Whereas Parle Products is an FMCG major. The company is a manufacturer of many iconic products like Parle G Biscuits, Krackjack, Monaco, and Happy Happy. The company also produce cakes, snacks and Namkeen.

Disclaimer: This story is for informational purposes only. It should not be considered as investment advice.


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