Create two partial views one to return the type of FruitModel and other be the type of StudentModel and in the main view you no need to specify a ViewModel class.In the ActionResult set a status in ViewData or ViewBag as fruitModel or StudentModel.
public ActionResult Action()
{
if(it's studentModel)
ViewData["Status"]=1
else
ViewData["Status"]=2
return View();
}
After that from the view you can return the partial view based on the viewData value like below.
@if(Viewdata["Status"]==2)
Html.RenderPartial( "FirstPartialView")
else
Html.RenderPartial( "SecondPartialView")
Hope this helps