Hi yashnasharma14,
Business Schools generally do NOT care if you take the GMAT more than once - and many GMATers do take the GMAT multiple times, so there's nothing to be ashamed of. You can use the experience from your prior studies and 1st attempt to better prepare for your next attempt.
Before you commit to a new study routine, it would help if you could provide a bit more information on how you've been studying and your goals:
Studies:
1) How long have you studied?
2) What study materials have you used so far?
3) How have you scored on EACH of your practice CAT/mocks (including the Quant and Verbal Scaled Scores for EACH)?
4) How did you score on the Official GMAT (including the Quant and Verbal Scaled Scores)?
Goals:
5) What is your goal score?
6) When are you planning to retake the GMAT?
7) When are you planning to apply to Business School?
8) What Schools are you planning to apply to?
GMAT assassins aren't born, they're made,
Rich