CMAT

I will divide the answer in 2 parts, PGDM and MS:
MS cut offs are pretty high but at 96.93 you have a chance of admission AFTER the CAP rounds are over. Once the CAP rounds are over, all colleges come up with a list of vacant seats and Welingkar releases an advertisement in the leading newspapers inviting applications. You can apply then. Also there is a group on Facebook where all such MBA college details are shared which you should join. PGDM:
For PGDM, Welingkar has an exhaustive process which includes a psychometric test, GD and a PI. The scores of these determine your admission. I know of people with 98 percentile not getting through the PGDM but someone with 85 percentile getting through. It is all profile based. The applications close on 31st March for the PGDM so I recommend you apply fast. I would recommend you apply for the PGDM and accept admission if you are offered. Later around July-August, when the vacancy list comes out, you can internally apply and switch to MS based on your percentile. I know of people who have done that. Good luck and please don't hesitate to comment if you have any more questions.

The MAT exam is conducted by AIMA, whereas the CMAT exam is conducted by NTA. Both entrance exams are popular for admissions to MBA and PGDM courses. Here is a small comparison to help you decide which exam you want to take: (A) Advantages of Choosing MAT Over CMAT:
1. The benefit of giving MAT over CMAT is that you can attempt MAT four times in the same academic session to improve the exam score. The CMAT exam is conducted once a year and provides less scope for improvement in score.
2. The MAT is conducted in three modes: computer-based mode, paper-based mode, and internet-based mode. Therefore, you can choose the exam mode according to your convenience. On the other hand, the CMAT is conducted only in computer-based mode. (B) Advantages of Choosing CMAT Over MAT:
1. The CMAT score has more acceptability than the MAT. In contrast to the 700 MBA colleges that accept MAT. Over 1300 B schools admit students based on the CMAT. It includes top B schools such as the Great Lakes Institute of Management, Chennai.
2. The CMAT is regarded as the second-best option after the CAT for admission to India's top business schools. Its score is valid for one year, unlike the MAT. You can choose MAT for convenience, but CMAT is recommended for top colleges.