Bangalore: India Infoline is bullish on Bombay Dyeing and has recommended a buy rating on the stock with a target price of 620. According to the brokerage, the stock has rallied smartly from a low of 416 in early-January 2010 to the present levels. The stock is moving along with the support of its 50-day DMA. On the daily charts, it has formed a pattern of a higher bottom. It is considered as the initial sign of a bottoming out process in the short term. The Bombay Dyeing and Manufacturing Company is an India-based company that operates in three segments: textile, polyester and real estate. The company's products include bed linen, towels, furnishings, fabrics for suits, shirts, dresses and saris in cotton and polyester blends. It has a range of industrial fabrics that include microdot interlining, and fabrics for shoe uppers, adhesives, abrasives, leather cloth, and filters. White Horse Real Estate is a wholly owned subsidiary of the company. Its operating facilities are located in India. India Infoline says that the daily RSI of the stock is already in strong buy mode, indicating that the prices are set to rally from the current levels. A sustained move past the 595 levels will see the stock heading towards the levels of 620-625 in the medium term. With the recommended target price of 620, if the stock is bought at Thursday's closing price of 584.55 the percentage of gain would be 6.06 percent.