Tejaswini, you get to select your specialisation in the 2nd year of your MBA. Considering the fact that you have just appeared for CAT, you still have an year and a half to closely observe the industry trends and then take a call. With technology ever evolving in every aspect, what might be in boom today might be over taken by another within no time. Having said that, there are few specialisations that are worth mentioning.

• Project Management: A project has a beginning and an end. The transition from the beginning to end needs management at various junctures. This is roughly Project Management. PMOs or Project Management Officers are always in huge demand for the kind of role they play with the stakeholders, client and partners. The opportunities in this specialisation will never fade.
• Risk Management: Any endeavor will have risks involved. Specialisation in Risk Management will help you fetch jobs as Risk Managers who predict the risks involved in a certain project and work towards eliminating the risk in the very early stages.
• Product Management: Every product needs marketing and sales. The Management of this business from beginning to the end involves Product Management. With too many start ups in our daily life, Product Management field will have no dearth of opportunities.
• Clinical Research: This is an interesting field if you find fun in knowing deeper things of clinical field. Foreign universities offer grants to meritorious students who want to pursue Ph. D in various Clinical projects.
• Rural Management: Now India acknowledging the developmental necessities of Rural areas more than ever, this field has been in great demand. From time to time, the Central and State Governments will need employees for their Rural development projects which means if you turn out to be skilful, you can land yourself with an opportunity in Government project
• AgriBusiness Management: With the whole chemical food is bad propaganda, most companies are turning to farmers for organic produce. The companies will need employees in this specialisation to run business smoothly. So this is also a good specialisation.
• We always have our traditional HR, Finance, Marketing and Sales specialisations.

Hello Tejaswani

It varies from person to person. I may not predict what is in your mind. You must have a soft corner for any particular stream. But still if you consider the trend then nowadays demand for " Risk Management" is on its peak.

But again i will say choose the one which interest you, it may be operations, finance or HR.