I have friends studying production engineering at PEC Chandigarh and they have come across that it is somewhat similar to mechanical engineering. You can expect a lot of mechanics and physics, however, some subjects differ as you get into the core.
Coming to the question, it totally depends on your pool of interest whether you are into mechanics and production or metallurgy. Here are two major factors you might consider before choosing any of them
At the end of the day, follow your passion and know where you can invest these 4 years of your life. Nevertheless, if getting a job is your goal then go for production engineering. On the other hand, metallurgy engineering can open doors for good research work if you are interested in doing so.