Hi venkat!
You can use DTS to perform this. You can take import and export from a Excel to SQL Server. For your help, I am telling you steps to do this.
(Assuming that you have little knowledge of DTS, But, if you know all these, this may be useful for any novice member of this forum.)
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[1] Open EM, open Data Transformation Services.
[2] In Local Packages client area, Right Click .
[3] Choose new package. A window with Toolbox in left and client area of design appears.
[4] Click and create a Excel icon from the connection section. A messagebox appears, specify Excel filename.
[5] Click SQL Ole DB from the connection section and select the database where you want to create this.
[6] Click Transform data task from the Task section.
[7] It chooses the source, click Excel and For destination, choose SQL Server icon which you specified before in step [4] and [5].

Double click the arrow which is drawn between Excel and SQL Server. A window appears. In Source Tab, you can select the sheet you want to copy. Click Destination menu. Here, you can choose a previosly created table or create a new one also. Move the next tab and select the appropriate columns. After Transformation Tab, you can also click OK.
[9] Click Package > Execute from the menu of the DTS Designer.
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I have written the above details with my memory. There may be some changes in steps. But, what I remember, I have told you in this message. DTS are really suitable to copy from one database system to another, even if SQL Server is not involved. You can even schedule your DTS Package.
DTS Designer is really easy to work, I hope any one could perform easily.
- Som Dutt