The deceased have been identified as Jharkhand natives Prince Kumar Sharma and Kishan Mahato, SHO A P Bharadwaj said.
The incident took place last evening when the two had gone to the river to take a bath along with three other friends. Surjit, Mohit and Johnson were rescued, but Sharma and Mahato drowned, the SHO said.
The students were in the first year of B Tech in a local engineering college.