The deceased has been identified as, Manpreet, a student of Khalsa College here, Additional DCP-I Jasbir Singh said.
The other youth has been admitted to a hospital where his condition is stated to be out of danger, the officer said.
According to police sources the incident might be a fallout of enmity between them.
A case has been registered against unknown assailants and and investigation is on, Singh said.
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