New Delhi: The caramel-and-chocolate candy 'Melody' manufactured by Mumbai-based FMCG giant Parle Products, found itself at the centre of a diplomatic exchange on Wednesday, as Prime Minister Narendra Modi gifted a packet to his Italian counterpart Giorgia Meloni.

It was a light moment. A sweet gesture. However, within minutes of the video of the two leaders sharing the light moment over the gift "Melody", which is seen as a mashup of their surnames, "Meloni" and "Modi" went viral, stock markets reacted unexpectedly.

Shares of Parle Industries hit upper circuit climbing by 5%. It was a result of retail investors' frenzy. The stock, which had slumped by around 70% in the past one year, hit its upper circuit just because of a mistaken identity.

Parle Industries has no connection with the Melody candy. Its core business is infrastructure, real estate development, and paper-waste recycling.

The company behind Melody candy is named Parle Products Pvt Ltd. It is a privately-held FMCG company well-known for its products including Parle-G, Monaco, Hide & Seek, and Mango Bite.

Meanwhile, Commerce and Industry Minister Piyush Goyal expressed hope that toffee diplomacy would be a boost to the domestic industry.