Parle Industries Share Price: Shares of Parle Industries soared 5 per cent to hit the upper circuit in intraday trade on Wednesday despite weak trends in the share market after Italy's Prime Minister, Georgia Meloni, shared a post where her Indian counterpart Narendra Modi had gifted her a pack of Melody toffees.
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.
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.