To make it simple for a stock market novice one can consider 'beta' as a measure of the volatility of a stock in comparison to the market and we can amplify the same by further stating that it quantifies the risk associated with the stock.

However one can also in same breath add that one can rely on the beta for risk measurement only if one is living in an unreal world. If we see the things on ground we will find that stocks are subject to change in investor sentiments due to several external factors. One can classify these sentiments change due to political crisis or change in power at the centre or a corruption scandal to political upheaval to economic and natural disasters. And there is no statistical measure that encompasses the risks to the stock from all of these.

Not to worry still you can get updated beta value for Indian stocks to make a judicious judgement to make money in low risk entries.
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