The deceased has been identified as Deepu (18), a student at a government school, who had appeared in the class 12 board exams.
Locals told police that the accused persons stabbed him over 40 times, a claim yet to be verified, a senior official said.
The incident took place on Friday evening when Deepu received a call and went out.
Minutes later he was seen running towards his residence, chased by a group of six youths. The group got hold of Deepu outside his house, allegedly stabbed him multiple times and fled.
Locals called up the police and Deepu was rushed to a hospital where he died during treatment.
A case of murder has been registered and police suspects the involvement of some juveniles in the incident.