Greetings Souren,

1.Acccording to your first query,yes as per your rank is concerned you can get M Tech in any stream provided you need to go through the counselling procedure. 

2.Secondly,You need to check the criteria for the Scholarship and also the subjects they are offering. Until and unles you check the criteria you cannot be conclusive about the stipend.

Good Luck !!

Regards Ankit!!