At 17 years and 320 days, Shaw became the second youngest player to notch up a three-figure mark in the Duleep Trophy, many years after Sachin Tendulkar created one when he was 17 years and 262 days old.
Owing to the Mumbaikar's 154 and a fluent century by the experienced Dinesh Karthik, India Red finished the first day of the five-day final at 317 for five in 83.3 overs.
Karthik made 111 off 155 balls during his 211-run third- wicket partnership with opener Shaw.
In his Ranji Trophy debut earlier this year, Shaw had slammed a century and helped Mumbai reach the final of the tournament beating Tamil Nadu by six wickets.
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Shaw burst into the scene after he aggregated 546 off 330 balls at a Harris Shield school match in Mumbai, recording the third highest score in any form of cricket. It is the same tournament that brought Tendulkar into the limelight nearly three decades ago.
After India Red elected to bat first, Shaw, along with Akhil Herwadkar, stitched a 74-run partnership for the first wicket before the latter was run-out for 25.
Surya Kumar Yadav did not last long, but Shaw joined forces with skipper Karthik to take India Red to a position of strength.
When Karthik got out at the team score of 300, India Red were comfortably placed with some batting to come, but two quick wickets before the close of play pegged them back a bit.
While Shaw struck 18 boundaries and a six while facing 249 balls, Karthik hit 12 fours.
India Red had topped the table with seven points during the round-robin contest.
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