The four factories will comprise an integrated solar photovoltaic module factory; an energy storage battery factory; an electrolyser factory for making green hydrogen; and a fuel cell factory for converting hydrogen into motive and stationary power.

The next big announcement expected at the RIL AGM would be the 5G investments and technology collaborations. Reliance Jio had cornered nearly half of all the airwaves sold at the 5G auction in July, with bids worth ₹88,078 crore. Reliance Jio aims to launch the pan India 5G service much before rivals Bharti Airtel and Vodafone Idea. Ambani is likely to announce the price points of Jio 5G also at the shareholders' meeting.

The petroleum refining and petrochemicals business of RIL -- named Reliance O2C -- was supposed to receive a humongous investment of ₹1.1 lakh crore from Saudi Aramco. But the deal was cancelled amid Aramco's financial issues. However, both companies wanted to pursue another deal in the renewable space. It’ll be interesting to see whether Ambani will speak anything on that front during today’s AGM.

Overall investments will be another area. RIL needs capital to expand the retail business with acquisitions. It has negotiated to buy many brands, including that of bankrupt Future Retail, and retail chains like Metro Cash & Carry.

Another area of investment will be Green. As part of its sustainability goals and bringing down carbon emissions to neutral, RIL is likely to announce its plans and investments. It is running projects like carbon capturing, hydrogen production and plastic recycling.

Management succession will be something most investors would want to hear from Ambani. His son Akash has already taken over the chairmanship of Reliance Jio. It is unlikely that he would announce any new roles for his other two children-- Isha and Anant -- at AGM. However, he is likely to give some indications.

Reliance O2C

RIL AGM: 6 key expectations from Mukesh Ambani's speech today