Hi SanjaySrini,
If you took your initial practice CAT/mock right before you began your studies - and you've been studying for just 2 weeks - then you shouldn't expect to have mastered any GMAT concepts just yet. Many Test Takers spend 3 months (or more) of consistent study time before they hit their 'peak' scores, so you should continue working on honing your knowledge and test-taking skills at this point. I suggest that you study as you like for the next 2 weeks, then take a NEW, FULL-LENGTH CAT. Once you have that score result, you should post back here (or you can feel free to PM me directly) and we can discuss the results and how you might adjust your studies going forward.
From what you've described, you've given yourself plenty of time to study - which is good. That having been said, a 740+ Score is approximately the 97th percentile (meaning that most GMATers will never score that high regardless of how long they study or the number of times that they take the Official Exam). To increase your chances of earning that type of Score, you would likely find it beneficial to invest in a GMAT Course of some type (either Guided Self-Study or instructor-led).
In addition, since you are interested in some highly-competitive Schools, you would likely find it beneficial to speak with an Admissions Expert about your overall profile and plans. Those Experts should be able to answer your Admissions questions and help define the specific areas of your profile that could use some improvement.
There's a Forum full of those Experts here:
https://gmatclub.com/forum/ask-admissio ... tants-124/1) Going forward, how many hours do you think you can consistently study each week?
GMAT assassins aren't born, they're made,
Rich