Hi Subbu,
Its clear from your log that DB is not able to connect.
Most likely the issue is with password.
Check with the SAP Note 556232 - Environment settings for R/3/Oracle on Windows.
Also, as it has been suggested above, check 400241 - Problems with ops$ or sapr3 connect to Oracle.
Please let us know if the issue is not resolved yet.
Regards,
Sujit.