Bizbits

BSE changes tick size in A group

MUMBAI 8212; The Bombay Stock Exchange BSE has decided to do away with the rigidity of imposing a tick size of 25 paise on A group stocks. However, stocks valued at a price above Rs 200 will continue to attract a tick size of 25 paise. As per the revamp exercise, the exchange has decided to impose a tick size of 5 paise on the stocks whose price ranges in the band of Rs 1 to Rs 50, 10 paise for Rs 50 and upto Rs 100, 15 paise for Rs 100 and upto Rs 150 and 20 paise for Rs 150 and upto Rs 200. This will be implemented from January 27.

Essar ties up for 191 mn loan

MUMBAI 8212; Essar Shipping on Friday signed a US 191 million term-loan facility in Singapore, arranged and underwritten by Bank of Nova Scotia, Nedship Merchant Bank and Skandinaviska Enskllda Banken AB. The banks will refinance ESL8217;s existing banking facilities resulting in significant interest cost saving for the company, a Nova Scotia release on Friday said.