** Shares of Treasury Wine Estates TWE.AX fall as much as 8.5% to A$10.2, their lowest level since January 24, 2024

** Stock last down 5.7%

** Australia's top winemaker sees fiscal 2025 operating earnings at A$780 million ($489.68 million), which is at the lower end of its previously projected range

** About 2.6 mln shares change hands, vs the 30-day average of around 2.5 mln

** Stock down 7.2% this year, including the day's move

($1 = 1.5929 Australian dollars)

(Reporting by Aaditya Govind Rao in Bengaluru)

((Aaditya.govindrao@thomsonreuters.com;))