** Hong Kong shares of Italian luxury group Prada 1913.HK fall as much as 8.9% to HK$62.25, their lowest since February 11
** Stock last down 6%, on course for the biggest one-day pct drop since November 2023
** Prada on Tuesday reported a 21% growth in operating profit last year, in line with analysts' forecasts
** CEO indicated on Tuesday Prada was at least looking at potential mergers and acquisitions following reports linking it with possible deals for fellow luxury brands Versace and Jimmy Choo
** Frankfurt-listed stock 1913.F gained 1.7% on Tuesday
** "The shares look expensive at current levels," Morningstar wrote in a research note, adding it maintains fair value estimate for Prada as the company reported strong revenue and profit growth in 2024, largely in line with expectations
** Hang Seng Commerce & Industry Index .HSNC rises 1.8%, Hang Seng Index .HSI gains 1.6%
(Reporting by Donny Kwok)
((donny.kwok@thomsonreuters.com))
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