Renaming Azure Storage Blob

Is it possible to rename Azure Storage Blob?

No. It is not possible to rename blob in one operation.
The only possible way you can do it is, by copying the blob to a new blob with the correct name and delete the old one.
Azure Blob Service API does not support ability to rename or move blobs.
For more info refer - msdn.microsoft.com/en-us/library/dd135733.aspx