Exposure to low temperature during germination and vegetative growth is a limiting factor to the establishment and development of rice seedlings. Higher cold tolerance of japonica than indica subspecies is well documented. However, reports of cold tolerance in indica genotypes are rare. We screened a large number of indica rice genotypes for cold tolerance during germination and initial vegetative growth. The indica genotypes IRGA 959-1-2-2F-4-1-4-A and IRGA 959-1-2-2F-4-1-4-D-1-CA-1, derived from the same cross, were characterized, respectively, as tolerant and sensitive to low temperature. Indexes of photosynthetic performance during light absorption were heavily affected by cold in both genotypes, but recovered after cold exposure only in the tolerant genotype. Activities of the antioxidant enzymes SOD and CAT (at the vegetative stage) and CAT and APX (at the germination stage) were higher in the tolerant than in the sensitive genotype. Expression of 20 genes previously related to cold response in rice was evaluated. Expression of OsLIP9 and OsWCOR413 were higher in the tolerant genotype upon or prior to cold exposure, respectively. The two sister lines show different molecular and physiological responses to low temperature stress. Further in-depth studies with these lines may help to identify new cold tolerance mechanisms in rice.