How granular is tick by tick data? What is the tick size, is it 1 sec or 1 paise?

General
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Tick size means minimum allowable change of price and on NSE it is .05( 5 Paisa).

Tick data means the number of all such tick size changes,it includes not only number of trades happened at LTP(Last traded price) but also all changes in bids and offers. Generally such changes are counted on per second basis. Thousands of such changes happen every second and thus it is not possible to provide tick data via internet hence big institutions will access tick data via dedicated leased lines from exchanges to their premises. Most of the brokers provide 1 to 4 ticks per second and it is adequate for retail traders if they are not involved in HFT(High Frequency Trading).

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Thanks a lot Siva :). Can you please recommend me some articles or websites to really have a good understanding of stock market. Thank You.

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Check the below link.