Reliance, Hindustan Unilever, ITC and Larsen & Toubro have been part of the Sensex since its inception. Their histories mirror India's economic evolution, while their 2026 performances vary widely.
Key Takeaways
- Reliance, HUL, ITC and L&T are founding Sensex members
- All four stocks show price declines in 2026
- Long‑term returns differ significantly
Historical Background
In the 1800s, five stockbrokers gathered under a banyan tree outside Mumbai’s Town Hall, trading informally. The Bombay Stock Exchange (BSE) was founded in 1875, making it Asia’s oldest exchange, now a fully automated digital platform.
Four Enduring Sensex Constituents
Reliance Industries went public in October 1977 with 2.8 million shares. Today it is India’s most valuable company, valued at roughly ₹17.73 lakh crore. In 2026 the share price fell 17%, yet it posted a 2% gain over three years and 22% over five years.
Hindustan Unilever (HUL) traces its roots to 1888 when Sunlight soap arrived at Kolkata harbour. After merging Indian entities, HUL launched its IPO in 1956, becoming the first foreign subsidiary to do so. The stock is down about 11% in 2026, with three‑year and five‑year returns of –18% and –14% respectively.
ITC was founded in 1910 as Imperial Tobacco Company of India Limited, later renamed ITC Limited in 1974. The share has slipped 23% so far in 2026.
Larsen & Toubro was established in 1938 by two Danish engineers. It now operates in EPC projects, high‑tech manufacturing, and services. While the 2026 YTD decline is modest at 2%, the stock surged 52% over three years and 143% over five years.
Why This Matters
BozokMedia analysis shows that these legacy stocks act as economic barometers, reflecting both sectoral shifts and broader macro‑economic trends in India. Their continued presence in the Sensex underscores investor confidence in established conglomerates despite short‑term volatility.
"These four companies have anchored the Indian equity market, providing stability amid rapid change," says financial analyst Dr. Rajat Sharma.
Comparison Table
| Company | IPO Year | 2026 YTD Change | 3‑Year Return | 5‑Year Return |
|---|---|---|---|---|
| Reliance Industries | 1977 | -17% | +2% | +22% |
| Hindustan Unilever | 1956 | -11% | -18% | -14% |
| ITC | 1910 | -23% | N/A | N/A |
| Larsen & Toubro | 1938 | -2% | +52% | +143% |
Frequently Asked Questions
Q1: Will these four companies stay in the Sensex long‑term?
A: Their robust business models and market share suggest they could remain, but market dynamics always pose a risk.
Q2: What should investors consider before buying these legacy stocks?
A: Evaluate financial health, industry trends, and policy impacts as key decision factors.
