Yes, it is possible to move an Azure VM image to another resource group by the Azure Portal by following the below steps.
1.Navigate to the Azure Portal to perform the resource group's management that contains that VM to move. Search for the option Resource Groups and select the same.
2.You need to choose the resource group that contains the VM that you would like to move.
3.You will see an option to move the resource group at the top of the page by selecting the move option. You also have to choose the move to another resource group. Once done, the move resources page comes up.
4.Now, select the resources that you want to move. You will need to move all the related resources that are listed most of the time.
5.You need to select the existing resource group, update the name to have a new resource name to be created.
6.Once you are done, you will need to select that you have understood the new resource IDs that will be created. The new IDs will now have to be used with the VM after it is moved and then select OK.