Both Christian Medical College CMC Ludhiana and DMCH Ludhiana are well-respected institutions for postgraduate studies in pediatrics. However, I recommend that you go for DMCH Ludhiana as it’s the most coveted medical college in Punjab owing to its top-notch infrastructure, clinical exposure, and the expertise level of faculty.
CMC Ludhiana too is an excellent medical college but the only drawback is that it’s a minority-based college so the seats in open merit are rare. It’s known to have the best Pediatrics department, so it’s an excellent choice too given that you have no financial constraints.
Lastly, I don’t think you should be choosing or evaluating colleges based on the stipend they pay. AIIMS pays the highest stipend but is that the reason it’s the dream college of many? Well, no. So it’s better to look at the bigger perspective and make a well-rounded decision.