Penguin update was recently released by Google to combat the websites with low quality content and fake back links. This update was released by Google on April 24th 2012. Google penguin update has deindexed the websites with more keyword stuffing, hidden duplicate content and link farms.
Here are few recovery tips for websites affected by Penguin update:
generate content of high quality and share it on social media networks to get top back links
add the author snippet in your websites
limit the keyword stuffing
remove all the spammy links from the web pages
make use of link disavowal tool present over internet
get more links from websites that have relevant content and they should be of same theme
stop using repetitive keywords in content.
Make sure that your anchor text heavy links will have less number of your website related links
To recover from the effect of penguin update, it is suggested to follow the above tips.