transport endpoint connect hangs

I am trying to build rpc server and client. I have noticed that the generated code given below hangs while connecting on first line of the method.

```
pub async fn connect(dst: D) -> Result
where
D: std::convert::TryInto,
D::Error: Into,
{
let conn = tonic::transport::Endpoint::new(dst)?.connect().await?;
log::debug!("connected");
Ok(Self::new(conn))
}

```
trace logs show something like this

2022-11-26T05:46:59.703825Z TRACE tonic::transport::service::reconnect: poll_ready; idle
2022-11-26T05:46:59.703935Z TRACE tonic::transport::service::reconnect: poll_ready; connecting
2022-11-26T05:46:59.704053Z TRACE hyper::client::connect::http: Http::connect; scheme=Some("http"), host=Some("[::1]"), port=Some(Port(50001))
2022-11-26T05:46:59.704221Z DEBUG hyper::client::connect::http: connecting to [::1]:50001

I am listening to the server using "[::1]:50000" and the client is using url http://[::1]:50000 to connect same as given in hello world example. Both client and server run in tokio::spawn async threads.

What could be the reason that connect method hangs? Appreciate any pointers regarding this. Thanks in advance.