According to latest media reports, bodies of seven boys and one girl have been recovered from the river.
The boat carrying about 60 students sank in the river at around 4: 30 pm, reports quote officials as saying.
Out of the many children admitted in the hospital, the condition of 10 children is reportedly critical.
The students were studying in Class 11 and 12 in Murakannad Higher Secondary School, say reports.
This comes a month after the a boat carrying tourists capsized in Thekkady lake killing over 40 people on Sep 30.