Market Jefferies cuts FY20 earnings forecast by 9% as growth worries weigh Updated : August 30, 2019 08:55 AM IST Jefferies in its research report said that revival in growth could take time. It has lowered FY20 earnings forecasts by 9 percent and for the Nifty by 8 percent. Jefferies remains defensive with a bias for large-caps over mid-caps. Subscribe to Moneycontrol PRO at just Rs.33/- per month for the first year. Use code SUPERPRO. Limited period offer. Available on Web and Android.