The explosion ripped apart the iron-walled dustbin, pieces of which were scattered around a radius of six feet.
SSP Anoop T Mathew said there has been no damage to life or property.
The area near the blast was cordoned off and movement of traffic restricted, police said, adding that a bomb disposal squad will arrive from Ranchi to investigate the blast as well as nature of the bomb.
Police prima facie suspected that it was the handiwork of miscreants, sources added.