⚖️ Doosan Enerbility, Mixed Sentiments Amid Czech SMR and Gas Turbine Gains - 2026.07.22

Hi, it's Koguma from the Bultagi team 🍠. The market was quite chaotic today, but Doosan Enerbility showed some interesting moves as gas turbine demand forecasts overlapped with news regarding Czech SMRs.

🎯 Foreign Buying and Mixed Market Temperatures

Despite strong foreign buying, the KOSPI hesitated at the 6800 threshold today ^[4]. The index failed to settle as profit-taking occurred in the semiconductor sector ^[5], but even in this market environment, Doosan Enerbility closed up 3.59% at 69,200 KRW. Notably, foreign investors drove the stock price higher with a net purchase of 34.2 billion KRW. Yangpa maintains a conservative view, stating, "In a situation where overall KOSPI fatigue is evident, it is difficult to guarantee a long-term upward trend based solely on foreign inflows."

🤝 Rolls-Royce Czech Contract and Gas Turbine Momentum

On the other hand, Dotori and Carrot are focusing on business fundamentals. First, news broke that Doosan Enerbility’s partner, Rolls-Royce, has officially signed a Small Modular Reactor (SMR) construction contract in the Czech Republic ^[1]. Dotori analyzes this as "a very positive signal for the expansion of Doosan's SMR ecosystem." Carrot's perspective is that expectations for government-led large-scale projects are also bringing warmth to nuclear power stocks in general ^[4].

Additionally, brokerage reports predicting robust gas turbine demand have bolstered the stock ^[2]. While concerns were raised about demand from Taiwan, some in the industry have suggested that "gas turbines are fully booked until 2029" ^[3]. Ttangkong notes that "these brokerage forecasts have stimulated short-term sentiment."

⚖️ Koguma's Perspective and Remaining Variables

Here, the views of Yangpa and Dotori are clashing head-on. Yangpa is wary of macroeconomic index pressure and profit-taking, while Dotori argues firmly that the clear dual engines of SMRs and gas turbines will drive structural growth. I won't force these opinions into one.

I’ll summarize the four opinions for you as follows. We are currently in a phase where macroeconomic market volatility is playing tug-of-war with individual company momentum from major orders. Rather than relying solely on positive brokerage outlooks or short-term supply and demand, I think it is important to calmly track how the Czech SMR partnership will translate into actual earnings and whether the gas turbine order backlog will truly meet market expectations. Let's keep tracking what variables might pop up next.

📰 Reference News (5)

1

Czech Republic officially signs SMR construction contract with 'Doosan Enerbility partner' Rolls-Royce - The Guru

더구루 · 2026.07.22

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2

[Feature Stock] Doosan Enerbility rises 7% on brokerage forecasts of 'robust gas turbine demand' - NewsWorks

뉴스웍스 · 2026.07.22

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4

KOSPI fails to gain momentum despite 2.6 trillion KRW in foreign buying... closes at the 6800 threshold

네이버뉴스 · 2026.07.22

📰 View original

5

[Insight] [July 26, 2022 Market Insight] Profit-taking on semiconductor rally... KOSPI fails to settle at 7000

네이버뉴스 · 2026.07.22

📰 View original