Tata Group-Backed IT Company TCS Signs Long-Term AI Partnership With SKF; Shares Trade Near 52-Week Low
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Tata Consultancy Services has entered a long-term strategic partnership with SKF to modernise its global IT landscape and embed artificial intelligence across operations, infrastructure and enterprise systems to support a connected, AI-enabled operating model.
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On Wednesday, the Indian equity benchmarks traded higher during the afternoon session, with the benchmark Nifty 50 index rising 0.41 per cent to 24,912.35. Information technology stocks remained in focus amid ongoing enterprise digital transformation deals and artificial intelligence-led technology partnerships. In this segment, Tata Consultancy Services (TCS) traded at Rs 2,272.6 at 1:24 PM, compared to the previous close of Rs 2,276.7, reflecting a decline of 0.18 per cent during the session.
TCS Enters Long-Term AI Partnership With SKF
Tata Consultancy Services announced a strategic, long-term partnership with industrial manufacturer SKF to support an artificial intelligence-led business transformation across SKF’s global operations.
Under the agreement, TCS will modernise SKF’s existing information technology landscape and establish an AI foundation aimed at improving agility, operational resilience and efficiency across the enterprise. The engagement includes end-to-end managed services covering applications, infrastructure, data, end-user services, security and connectivity operations globally.
The company stated that it will leverage its manufacturing and IT domain expertise along with AI-led agentic workflows to modernise and simplify SKF’s global technology architecture. The programme will include standardisation of operations, strengthening domain-led technology architecture, modernisation of core infrastructure, and acceleration of the adoption of a next-generation enterprise resource planning platform.
Partnership Focused On AI-Enabled Manufacturing Operations
According to the company, the partnership is intended to help SKF establish a globally connected operating model that combines centralised AI-enabled systems and harmonised business processes with flexibility to address local market requirements.
The collaboration also aims to embed AI capabilities across IT systems, business processes and products to support growth initiatives, improve customer experience and strengthen operational capabilities across global and regional business functions.
Rickard Gustafson, CEO, SKF, said, “The next decade of industrial manufacturing will be defined by how deeply companies integrate AI into how they design, produce, and serve. SKF intends to lead that shift. With TCS as our partner, we are not just modernising our technology, we are also building the operational and AI foundations that will set new standards for precision and customer value across our industry. This is a long-term commitment, made between two companies that share a conviction about where industrial manufacturing is heading.”
K. Krithivasan, MD and CEO, Tata Consultancy Services, said, “Our partnership with SKF is centred on modernising its global IT landscape and building a resilient, scalable digital foundation for the future. Together, we are applying data-driven intelligence and AI to create an agile enterprise that can adapt to technological and market change while supporting long-term sustainable growth and competitiveness. This collaboration reflects our joint commitment to making SKF an AI-native, industry-leading, technology-driven industrial manufacturer. TCS will bring its deep domain expertise with advanced technology and partnership ecosystem to deliver outcome-driven, enterprise-scale business transformation across the value chain.”
TCS Expands Presence In Nordic Region
The engagement further strengthens TCS’ presence in the Nordic region, where the company has operated since 1991. TCS currently employs more than 20,000 people across Sweden, Finland, Norway and Denmark.
Founded in 1907, SKF reported annual sales of SEK 91,583 million in 2025 and had 37,271 employees, with operations across approximately 130 countries.
Shareholding And Stock Performance
Tata Consultancy Services Ltd. was trading at Rs 2,272.6 on May 27, 2026, at 1:24 PM, compared to the previous close of Rs 2,276.7, reflecting a one-day decline of 0.18 per cent.
The stock has declined around 35.65 per cent over the past one year, while two-year and three-year returns stood at negative 40.88 per cent and negative 31.61 per cent, respectively. The stock’s 52-week high and low stood at Rs 3,538.05 and Rs 2,245.85 respectively.
Foreign institutional investor holding declined to 9.66 per cent from 10.37 per cent, while domestic institutional investor holding increased to 13.4 per cent from 12.87 per cent.
About Tata Consultancy Services
Tata Consultancy Services is a global IT services, consulting and business solutions provider serving enterprises across multiple industries. The company operates across international markets and provides technology-led transformation services spanning cloud, AI, digital engineering, enterprise applications and managed services solutions.
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Disclaimer: This article is for informational purposes only and not investment advice.