Hi @raghavc
theoreticaly yes but this is not quite posible in real life.
You may send email with embeded JavaScript code but almost every email client will block execution of this and notify recipents. It is the best to provide a link to your web site where the price will be always up to date.
However, you can change image content if price is on image (not the URL of image, since that's part of the email that's already in the Inbox, but the binary image content that's located at the image URL) but this could be interpreted differently on different email clients.
Regards,
MIlan