Among the above two institutes, SGSITS is a good institute for computer science in terms of reputation, placement, and learning opportunities.

The table below gives a brief comparison of the two institutes.

Key Highlights - SGSITS:

• Being an older college, SGSITS has a greater reputation than IIITM Gwalior.
• Several students of SGSITS are now currently working on top MNCs like Amazon, Microsoft, SAP, Deloitte, etc, and they are mostly from CS & IT branches.
• The overall placement of Computer Science is almost 100% in the recent years, with annual packages ranging from several lakhs to a few per annum.
• The exposure and environment in SGSITS are much better, with a lot of events happening throughout the year. It has a much more sensitive crowd and provides a better learning opportunity.
• There are many alumni with 2 digits all-India rank in GATE, which is a great motivation.
• Indore has all kinds of facilities for tuitions and coaching for GATE, CAT, or GRE are easily available.

Overall, SGSITS is a decent Institute for Computer Science and above all, Indore is a better city to live in.

It depends on what you expect as the final outcome from your degree. If you are looking for just a degree, SGSITS is a good choice. But doing engineering just for the sake of it does not make sense. You should figure out what branch you want to study in before making any decisions.

BM and IP:

These two will not fetch you that much capital since the placement options are limited. Your chances will only increase if you are from an IIT.

CS:

Computer Science Engineering is the most reputed among students. It will fetch quite a decent package but you will have to work for it on your own, irrespective of which institute you choose. 

ET:

ET is a branch that can prove to be quite fruitful for you. Placements are really good to a certain level and you are bound to cop some of the top ones if you study seriously. 

Choosing a branch is the most crucial step and you should decide that, on your own.