If the ban comes into effect, it could effect companies such as UPL, Rallis India and Coromandel International, which manufacture some of the products listed in the notification.
The Centre has issued a draft order banning sale, use and import of 27 insecticides.
The insecticides have been listed for the potential ban, the Ministry of Agricultural and Farmers Welfare said in the draft order dated May 14.
"No person shall import, manufacture, sale, transport, distribute and use insecticides as specified in the Schedule to this Order from the date of publication of this Order," the notifications said.
Shares of UPL fell 5.5 percent on May 19 following the draft order.