Based on the last 5 year monthly returns for GAIL and Bharti, We see that these stocks lie very close to the Efficient frontier as per Capital market line theory. No wonder FII's and MF's are stocking on this low risk high returns stock of Bharti Airtel which is the yellow triangle bounded by red in the graph shown above.
The distribution of returns over the last 5 years are shown in the RED graph above
Kurtosis and skewness adjustments will have to be done for Standard deviation (Risk) of Bharti.
