MUMBAI Nov 20 Shares in India's Excel Crop Care
Ltd rallied as much as 16.6 percent after a TV news
channel reported that an expert panel told India's top court
that endosulfan pesticide could be used in farms for the next
India's Supreme Court had last year banned the manufacture
and sale of endosulfan in the country, pending a report from the
government-constituted committee to review the safety of the
The United Nations in June 2011 had added endosulfan to its
list of hazardous industrial chemicals.
Excel Crop Care is India's largest maker of endosulfan, a
controversial pest killer often linked to health hazards,
followed by state-run Hindustan Insecticides and numerous other
The panel has recommended the use of endosulfan for two
years as a pesticide, ET Now television channel reported.
"The expert committee has submitted its report to the
Supreme Court today and a final hearing is scheduled on Nov.
29," Pradip Dave, president of the Pesticides Manufacturers &
Formulators Association of India, told Reuters over the
telephone. Dave said he had not seen the report.
The panel's report was not immediately available.
The court had earlier allowed exports of pending stocks of
endosulfan, which is mostly shipped to Africa and Latin America.
Valued at $41.4 million, shares in Excel Crop Care were up 9
percent at 226.40 rupees at 0920 GMT in a weak Mumbai market
(Reporting by Kaustubh Kulkarni; Editing by Prateek Chatterjee)