Based on data you provided, these are the possibilities. You can go through and opt for whichever way you find comfortable.
Point 0:
HAL = Hindustan Aeronautics Ltd.
SAIL = Steel Authority of India Ltd.
Conclusion: Totally different industries so, comparison is of no use.
Point 1:
SAIL - you are not sure. Even no one is since, results are yet to come.
HAL - you are selected.
Conclusion: So, you must go to HAL as taking risk is not recommended in this situation.
Point 2:
HAL is related to aeronautic industry where metallurgy people have a little work to do.
SAIL is related to Steel industry and best meant for metallurgy people.
Conclusion: SAIL is better fit for your skills.
Point 3:
HAL - joining date is 31st December 2012.
SAIL - Result not OUT
Conclusion: You can wait till 28th December 2012; 18:00:00 hrs for SAIL result. If result not comes till then, you go for HAL.
Point 4:
HAL - bond of 5,00,000/- ; 5 years. ( @kplight Sir said that. )
SAIL - bond not directly mentioned. BUT 5,000/- per month to be deducted from total emoluments during training (2 years only).
Conclusion: So, you can join HAL now. After 5 years, re - apply for SAIL.
These are various possibilities, you review these and find out which one is suited for you.