Pradhan (52) was at the market when the ultras on three or four motorcycles fired at him. He died on the spot.
The attackers also set ablaze two vehicles parked in the vicinity, the sources said.
DIG (Ranchi) Sheetal Oraon said according to prima facie evidence, the incident seemed to be a handiwork of Peoples Liberation Front of India (PLFI), splinter group of the Maoists.
About two months ago, PLFI had shot dead a leader of Jharkhand Vikas Morcha (Prajatantrik), Vijay Munda, at a place under the same police station.