Mr. Raj Rajaratnam, the Sri Lanka born US fund manager, has sold two million shares of the JKH conglomerate to the Bank of Ceylon is last week’s stock market surge, authoritative sources said.

The deal was on a crossing on the bourse and was concluded at a price of Rs. 111 a share.

``With the JKH share going up over 40% in a matter of days, Rajaratnam was obviously tempted to take profit,’’ an analyst said. ``JKH seems to have become a bellwether on the CSE,’’ he said. ``It’s share price seem to be reflecting country confidence.’’