If you had joined SRM 4-5 years ago then I would have said yes,, and that too only for CSE, IT and Software branches.
The thing is there are a limited number of jobs. Consider 10 companies come for recruitment in year x and consider the next year 12 recruiters came, but every other year SRM takes 1000+ students then before. So the competition only increases. Seeing the current economic scene in India there is a very less chance of a 100% placement which SRM boasts about. So I would say No. Drop SRM. Join VIT instead. If you have no other option and drop is not an option then take SRM.