Thanks donna_in_sask. Rudbeckia is the first thing came to my mind but I was not sure as it was sold as an annual. Now I'm a bit confused. Isn't rudbeckia supposed to be perennial? Also the leaves have kind of smooth edges. Any insight anyone?

There are several different species, and hybrids, of rudbeckia. Yours might be one of the rudbeckia hirta varieties. They are often annuals.

R. hirta, annual in your zone, but often self seeds.

Thanks all. I feel like a stupid. In my had I had this picture of rudbeckia being tall perennial with pronounced serrated leaves which are generally seen in most of the yards around me (and so not suitable for balcony).

This one is very compact and after seeing all the comments I went back and searched some more on Google. This guy perfectly matches the profile of R. hirta 'toto'. So I'll assume it is a toto.

Thanks again for all your help.

I think we should refuse to buy any plant of any category that is not labeled with the genus and species.

Such a boycott wouldn't need to last very long for the growers and retailers to get the message loud and clear.

The tag should be in the form of sticker for the pot.

Rhizo_1, I totally agree. So much time is wasted in finding true ID of this one (and yet am not completely sure). Even Home Depot does this at times.

I generally avoid buying plants without proper ID or care instructions (as I'm still kind of a new gardener). But sometimes I fall prey to the pretty Flowers :)