The incident took place in front of the boy's mother with whom he had gone to buy household items at a weekly market on Wednesday's night, police said, adding that as per initial investigation, it appears to be a case of personal enmity.
When Ajit was buying household items along with his mother, the accused, identified as Vijay, reached there and started stabbing him.
Ajit's mother shouted for help, but no one came to rescue him. By the time people reached, the accused fled from the spot, police said.
Vijay has been arrested and the knife used in the commission of the offence recovered from his possession, he said.
As per initial investigation, the accused allegedly took revenge of the near-fatal attack on him by Ajit's brother three months ago, added the official.